Full Tilt has released a statement admitting that it "was not prepared for the far-reaching, US government enforcement effort of Black Friday."
It stated that "until April 15, Full Tilt Poker had always covered these losses so that no player was ever affected." The company said that during late 2010 and early 2011 it experienced unprecedented issues with some of its third-party processors that contributed to its financial problems. And while it was on its way to addressing the problems, it never anticipated that the DOJ would seize its global domain name and shut down the site worldwide.
According to the statement, Full Tilt has been actively exploring opportunities with outside investors over the last four months, in order to stabilise the company and pay back its players. At least six of those groups, including hedge funds, operators of other internet businesses and individual investors, have visited Dublin to inspect the operation. It confirmed: "We have recently engaged an additional financial advisor through an investment banking group to assist us in our search for an infusion of cash as well as a new management team to restore the site and repay players."
On August 22, Full Tilt issued a statement apologising for its lack of communication with its customers over the last month and a half, stating that "it has been grappling with unexpected and complex legal and financial issues arising from Black Friday and its aftermath."
