Full Tilt Poker Gets Suprise US Market Re-entry Concession

Full Tilt Poker Gets Suprise US Market Re-entry ConcessionFull Tilt Poker was once the second biggest online poker room in the world, before it saw its US operation shut down back in April 2011 followed by the rest of the world in June.
Since then, Groupe Bernard Tapie (GBT) has been trying to negotiate a settlement with the US Department of Justice for the purchase of the beleaguered online poker room’s distressed assets.
It was then announced recently that Full Tilt’s frustrated customers were a step closer to receiving their $330 million in lost funds after an agreement was reached in principle to  sell the company for around $80 million, pending its shareholder’s approval.
In the latest twist in the ongoing saga, it would appear that potential new owners Groupe Bernard Tapie have struck a deal with the DoJ which would also permit them a concession not even yet afforded to PokerStars. Namely, Full Tilt may be permitted to re-enter the US market in the eventuality of online poker legalisation in the States. Expressing his optimism ahead of the agreement, Full Tilt Poker attorney Jeff Ifrah commented:
“The deal that was reached between the investors and the Department of Justice (DoJ) is going to pave the way for players to be reimbursed and it’s hopefully going to pave the way for a new FTP to be re-launched. Those two together, is good for poker, good for the industry and good for the players.”
Groupe Bernard Tapie (GBT) are specialists in acquiring distressed companies and returning them to profitability. If this latest deal goes through then there is little doubt that GBT will be once again be making a shrewd move by investing in the once hugely profitable online poker business.  In addition, Full Tilt Poker was once acknowledged as having the best and innovative software in the industry, once again making its potential purchase a solid investment.
It may now be looking that the past reports of Full Tilt’s death may have been greatly exaggerated. Phil Ivey may even be feeling a slight easing of pressure since the debacle started, and is currently making his first poker playing appearance since Black Friday, at the APPT Main Event in Macau.

Other news:   Multi-state online poker compact bill introduced in Pennsylvania

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