#FULL TILT POKER USA FULL#
The deal would include full repayment of player balances from day one, and would allow PokerStars to buyout their biggest competitor. PokerStars have stated that they are in ongoing settlement discussions with the DOJ but that these talks are confidential. It is rumored that a deal will between the two parties will be formally announced soon. Light at the End of the Tunnel for Full Tilt Players The same day, GBT confirmed that they were on the outs, and were focusing on launching their own online poker room. The reported $750 million deal would bail out players domestically and internationally. Rumors flooded poker news sites and forums. It was reported on April 24th, 2012 that PokerStars had purchased Full Tilt Poker. After several disagreements with the Department of Justice, GBT finally backed out of negotiations and a new buyer emerged. Months went by, and the contract had yet to be finalized. The deal seemed to be held up for months as Laurent Tapie looked to receive payment from FTP Pros that owed $16.5 million to the company. The DOJ would take care of payouts for American players. Details emerge regarding the Tapie deal GBT was to pay the Department of Justice 80 million for the acquisition and would assume the role of paying players worldwide. On September 30th, 2011 Tapie signed a preliminary agreement to acquire FTP.
The French investing group, Groupe Bernard Tapie emerged as a buyer. At this point, the public began to realize this was not true and that the money was gone.įTP soon began looking for financial help, with the DOJ being an intermediary for negotiations with potential buyers. They were broke and blamed the US government for the inability to pay players. Though, FTP denied they were a ponzi scheme as alleged by the District Attorney. It alleged that FTP skimmed money off player deposits and did not have the cash on hand to facilitate withdrawals. In late September of 2011, the US attorney’s office reported that FTP was a massive ponzi scheme. The combined total of funds for both US and international players was about $300 million dollars. The next few months were full of half truths and promises by Full Tilt Poker to get funds back to the players.
#FULL TILT POKER USA LICENSE#
Just over a month and a half later the Alderney Gaming Commission revoked Full Tilt’s license and all real money play came to a halt. Full Tilt released a statement on that progress was being made to return funds to US citizens. They had yet to pay any players, but the company was still actively taking deposits from international players. The story was quite different with Full Tilt Poker. PokerStars immediately started to pay players, and within a few weeks of Black Friday all players were repaid in full. By this point, all real money play had been suspended. com’s again, and begin to pay US players their balances. Shortly after the indictment, the Feds allowed the rooms to gain control of their. Raymond Bitar and Nelson Burtnick were both indicted as owners of Tiltware and facilitating payment processes. The New York District Attorney’s office froze many of Full Tilt’s bank accounts indicted its owners. Full Tilt Poker’s Demise (and Possible Future “Uprising?”)įull Tilt Poker was one of the two “big boys” to get taken down by the April 15th, 2011 indictments.
Covered are the key situations over the past year, the factors contributing to each site and the prospects of the players getting paid. Most of these rooms failed or defaulted due to US Department of Justice seizures or indictments. In this article, we will take a look at the sites that have fallen out of favor with players within the past year, especially in regards to players in the United States. Many online poker rooms have met their demise through the hands of the Department Of Justice, left the US market on their own, or were out forced out of business. The past year and a half have been a rough year for poker players, especially those from the United States.
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