Full Tilt Poker deal finalised at last
It may have been a very long time in the making, but a deal has finally been completed between Full Tilt Poker and the company's new investors...
The disgraced online poker operator has essentially been 'dead in the water' since it was indicted by the United States Government on 'Black Friday' earlier in 2010; however, a deal has now been finalised with French investment group, Groupe Bernard Tapie, which will finally see some movement come back to Full Tilt Poker.
It has been reported that FullTiltPoker.com will now be purchased by the French investment group for a sum of $80 million; this news comes as an agreement is struck, not only with the owners of fallen poker website, but also with the United States Department of Justice. The deal follows September's news, which announced that Full Tilt Poker had signed an 'exclusive deal' with Groupe Bernard Tapie; despite this news, the full details of the deal were not to surface until earlier this month. Although virtually completed, the deal must still be agreed with by shareholders before it can pass through; only then can the company finally begin the long and arduous process of paying back all the money to its former customers who had their account funds 'frozen'.
Groupe Bernard Tapie is owned by the son of former businessman and politician, Bernand Tapie, who was not without his fair share of controversy.
“It is a very creative solution,” Jeff Ifrah, a lawyer working for FullTiltPoker.com told the Reuters news service.
“The question now is, with the agreement behind us, how is this going to work? Are the players going to get everything back, what's the process for filing claims and so on. These are things that the players are concerned about now.”
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