Full Tilt Poker Rescued By Jack Binion?

If rumours circulating around the poker community are correct, then beleaguered online poker room Full Tilt may be about to receive a major investment boost to its operation from casino business pioneer Jack Binion.
Black Friday in the US saddled Full Tilt Poker with a whole host of problems, including charges of bank fraud from the US Department Of Justice amounting to $1 billion in damages before legal costs. In addition, the site has encountered a liquidity problem resulting in it still owing a $150 million debt to its online customers,
Full Tilt Poker consequently announced it was seeking to raise $150 million from investors in return for a stake in the company. Now it appears America’s most prominent casino name Jack Binion is contemplating throwing his clout behind the massive poker room and according to a news report was seen along with Phil Ivey visiting Full Tilt executives in Ireland.
According to the subjectpoker.com report, Phil Ivey’s presence in Ireland showed an improvement in his frosty relationship with his sponsored site, which reached a crunch point recently with Ivey suing the site and pulling out of WSOP 2011 until Full Tilt customers had their funds returned.
In addition, apparently Ivey’s presence was important to Jack Binion, who may now be close to reaching a deal with the second largest online poker room in the world. If the rumours are correct then Jack Binion’s expertise, as well as his money, could prove a major boon to Full Tilt.
Son of casino mogul Benny Binion, Jack Binion became president of Binion’s Horseshoe in 1963 and was credited with having founded the World Series Of Poker in 1970, and creating the satellite tournament.
Jack has since been inducted into both the Gaming and the Poker Hall of Fame and currently works as a consultant for Wynn International.