Full Tilt Poker’s future in 2012

January 26, 2012
Many players are still awaiting the fate of Full Tilt Poker and the progress on player refunds after the Groupe Bernard Tapie (GBT) decided to acquire it last year. According to a recent interview by Behnam Dayanim, the man representing GBT’s interest in the United States given to PokerNews, there is still no progress between the talks of the GBT/FTP with the Department of Justice.
 
According to the deal that was outlined back in November when Groupe Bernard Tapie acquired Full Tilt, GBT would pay back players outside the USA and the Justice Department would be in charge of repayments within the US. That mechanism has still not been worked out but Mr Dayanim seems to think that it should be resolved “soon”.
 
So far, what has been concluded is that upon the consent of Full Tilt companies to forfeit their assets, the DOJ will sell those assets to GBT. Consent of Full Tilt companies to forfeit their assets was received by the means of the shareholders’ approval. The final step that remains is negotiating a definitive agreement with the Department of Justice to iron out the details of the agreement. Once that’s done, forfeiture will occur and an order of court will allow the DOJ to finally sell the assets to the GBT.
 
Once this is done, all the details will be public and clear. The only thing remaining for GBT to fully operate Full Tilt Poker would be to reapply for licenses with the Alderney Gaming Commission and the Kahnawake Gaming Commission. Full Tilt already held those licenses before they were revoked so the software and gaming platform is familiar to the commissions which should speed up the process of approval for a gaming license.
 
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