Full Tilt Poker Deal By 22nd July 2011

There have been plenty of rumours flying around recently about the possibility of investors weighing in to rescue beleaguered online poker room Full Tilt Poker.
Formely the second largest poker site in the world, Full Tilt has since had its licence suspended by the Alderney Gambling Control Commission pending a regulatory hearing on Tuesday 26th July.
In the meantime, its disgruntled customers, out of pocket and unable to play, have been abandoning the site and flocking to the competition. PokerStars has already seen its cash game traffic soar by 15%, while PartyPoker’s has increased by a massive 23%.
Since it launched in June 2004, Full Tilt Poker has earned its reputation as a first class online poker website with the highest quality software in the business. However, given the present situation, it is becoming increasingly imperative a deal is struck by the company as soon as possible.
The news first broke about a group of European investors negotiating to gain a controlling interest in Full Tilt on July 1st, by the Los Angeles Times. Now a few more details have come to light, courtesy of Full Tilt Poker attorney Jeff Ifrah.
Ifrah has been the main source of Full Tilt leaks over the past few weeks and in the latest breaking news, the attorney told PocketFives.com:
“The game plan is that within the next two weeks, this deal will close, and the number one feature of it is for players to get paid back. The investor is aware of that and everyone knows that’s the critical material term. Without that term, the deal won’t happen.”
Jeff Ifrah further explained that part of the deal would “hopefully be a settlement of the DoJ case,” and would also lead to the withdrawal of the class action suit recently brought against the company.
Elaborating further as to the identity of the company’s potential saviours, Jeff Ifrah would only say that they haled from the financial sector and that:
“They are not one of our competitors and to my knowledge it’s their first step into the e-gaming sector.”
Could there finally be a silver lining on the horizon for Full Tilt Poker and its army of frustrated fans, who have found themselves on the ropes since the US decided to go all out on its anti-online poker crusade.

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