Full Tilt Poker Hearing Underway: Three Possible Outcomes AheadSeptember 20, 2011 6:49 am
The Full Tilt story seems to be reaching its ultimate conclusion as the Alderney Gaming Control Commission (AGCC) hearing finally resumed yesterday at the Riverbank Park Plaza Hote in London.
At stake for the beleaguered online poker room is their operating license, as well as the company’s very existence. At stake for thousands of players around the world is the return of more than $150 million of their money still frozen on the site as a result of Full Tilt’s negligent accounting practices.
Despite the company’s request to have the AGCC hearing held in private, any results are not likely to stay quiet for long, and as pokernewsreport speculated earlier this morning, three possible outcomes await Full Tilt depending on which route the AGCC takes.
The first scenario would be that Full Tilt has its operating license revoked, which would have the knock-on effect of the company’s secondary licence by the Kahnawake Gaming Commission being withdrawn, as well as their French license by Arjel. The overall effect of this would be the effective end of Full Tilt Poker.
A second scenario would be that the AGCC agrees to let the company operate on a restricted basis, thus providing Full Tilt with a means of revenue and so increasing the possibility of it attracting a potential investor.
Finally, in what could be the most likely scenario, the AGCC may decide to extend Full Tilt’s suspension until after the US DoJ’s indictment hearing scheduled to get underway at the end of this month. This would then allow the AGCC to more fully assess the level of fines Full Tilt Poker faces and thus the company’s future liquidity, before deciding on the fate of Full Tilt’s licence.
In any case, considering the number of court cases currently facing Full Tilt, its apparent lack of cash liquidity, not to mention the damage already done to the reputation of its brand, it is not clear how the company would even be able to operate effectively even if it was granted a new license. Full Tilt is currently in a big hole from which there may now be no way back.