Groupe Bernard Tapie is believed to have struck a deal with the US Department of Justice allowing it acquire the troubled online poker company Full Tilt Poker.
According to Subject: Poker, Full Tilt’s Ray Bitar emailed Tiltware shareholders announcing an agreement had been reached between GBT and the US authorities.
“My understanding is the deal provides that in exchange for an agreed upon payment by GBT and a GBT commitment to assume responsibility for payment of rest of the world players, the DoJ will reimburse US players and settle the outstanding civil litigation with the companies comprising FTP. Beyond these conditions, issues like the time frame and process for repayment of players remain unclear at this point,” he said.
GBT, he added, is now clear to proceed with its plans to acquire the assets that comprise Full Tilt Poker.
The Alderney Gambling Control Commissioners revoked the licences of Vantage Ltd, Filco Ltd and Oxalic Litd, trading as Full Tilt Poker, in September.
During a six-day hearing held in London, the tribunal heard that Full Tilt had misled the AGCC about its operational integrity by continuously reporting as liquid funds balances that had been covertly seized or restrained by the US authorities, or that were not actually available to the operator.
