The LA Times is reporting that a group of unnamed European Investors have come to terms to purchase a majority stake in the online poker site. The deal would also facilitate the repayment of US player funds that have been frozen since April 15, 2011 –known as Black Friday in the poker world. While no monetary numbers were given, the sale would apparently see a large enough infusion of cash to cover the estimated $150 million owed to US players, as well as to settle Full Tilt Poker’s part of the $3 billion civil suit filed by the US government in conjunction with the criminal indictments that were handed out in the case. It was also discovered that Phil Ivey, who filed a $150 million breach of contract lawsuit against the company he has represented for over five years, will ask for the case to be dismissed in light of the new developments. According to Ivey’s lawyer, David Chesnoff, “Mr. Ivey intends to dismiss his lawsuit as he believes Full Tilt is taking steps to see that the players are paid," PokerNews.com is also reporting that they have spoken to several sources at Full Tilt Poker who corroborated the LA Times story, however, they also stated that there were still “a few remaining obstacles that need to be cleared before a deal is confirmed.”
8 comments:
Black Friday was really very sad day for poker player, I am a poker game lover and I was also very upset because I wanted to buy some poker accessories for games
Full Tilt Poker, which was the world's second-biggest online poker company until two of its founders were indicted by the US government.
Full Tilt Poker has announced that it has completed its negotiations with potential investors from Europe and is now turning its attention to other investors.
If someone were to isolate a company through a difficult period in the present, when most people collect Full Tilt Poker.
Online venues, by contrast, are dramatically cheaper because they have much smaller overhead costs.
On September 30, 2011 it was disclosed[by whom?] that French business tycoon Bernard Tapie had agreed to buy the company and its assets despite its legal troubles in the United States and the revocation of its gambling license.[8] According to Full Tilt Poker, the agreement provided for full repayment of poker players, but it was subject to resolution of the US legal actions.[9].
Without discipline you'll become easy prey at the tables. Part of your strategy should be mucking trash hands before the flop.
The LA Times is reporting that a group of unnamed European Investors have come to terms to purchase a majority stake in the online poker site.
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