August 24, 2011
Since even before the July 26 court hearing, Full Tilt players have been awaiting the fate of what used to be the world’s second largest online poker room in order to know if and when bankrolls would be refunded.
As time went on and no news came forth, players started to lose hope in a potential takeover or sale that executives at Full Tilt were hinting at. On Monday August 22, Full Tilt issued a statement to PokerNews stating the following:
“Dublin, Ireland (August 22, 2011) – On August 16, Irish based Pocket Kings Ltd., brand executor for the Full Tilt Poker moniker, concluded the exclusivity period of negotiations with their current potential investor.
While Pocket Kings Ltd. plans to continue discussions with its current investor, the company has now begun negotiations with additional potential investors to conclude the sale/partnership of the Full Tilt Poker brand and its assets.
Full Tilt Poker apologizes for its lack of communication with its customers over the last month and a half, but it has been grappling with unexpected and complex legal and financial issues arising from Black Friday and its aftermath. In addition, the company has had to be circumspect about disclosing the progress of negotiations with potential investors because there is often a requirement of strict confidentiality.
To the extent that it can do so without jeopardizing future opportunities, Full Tilt Poker will strive to have better communication with its customers going forward. Full Tilt Poker’s number one priority remains the same: to secure an infusion of capital to repay all of its worldwide customers.”