AGCC statement regarding Full Tilt Poker hearing
In a press release issued on their website, the Aldernay Gambling Control Commission (AGCC) explained their decision to postpone the hearing regarding the state of Full Tilt Poker’s license by saying that it would allow Full Tilt Poker “to further pursue advanced commercial negotiations which could lead to a more beneficial outcome for player interests” –which in laymen’s terms means they want to give Full Tilt Poker a little more time to finalize a deal with outside investors.
While players and the poker media that had assembled in the Crown Plaza Victoria Hotel in London were none too happy with the AGCC’s decision to hear Full Tilt Poker’s arguments in private –after billing it as a public hearing—the decision does show that there are potential investors waiting in the wings; otherwise there would be no reason to allow Full Tilt Poker more time.
Here is the full statement issued by the AGCC regarding the July 26, 2011 hearing:
At a hearing yesterday the Commissioners of Alderney Gambling Control Commission (AGCC), acting as a tribunal, decided that the application for an adjournment of the hearing into the future of the licences issued to Full Tilt Poker (FTP) be conducted in camera. Following the hearing of this application, the Commissioners decided to adjourn the substantive hearing of the allegations against FTP. As part of their ruling the Commissioners emphasised that the substantive hearing into the future of these licences still needs to take place.
As a result of the arguments on behalf of FTP during the pre-hearing application the Commissioners decided to adjourn the hearing as they felt it was in the best interests of FTP’s customers. A key consideration in their decision was to allow FTP licensees ‘to further pursue advanced commercial negotiations which could lead to a more beneficial outcome for player interests’.
The Commissioners adjourned the substantive hearing to commence as soon as possible and in any event not later than 15th September. Further details regarding the exact date and venue of the substantive hearing will be announced as soon as practical.
Tags: Acting, Adjournment, Agcc, Allegations, Commercial Negotiations, Crown Plaza, Full tilt Poker, Gambling Control, Hotel In London, Investors, Laymen, Licensees, Press Release, Public Hearing, Reason Full, Tribunal, Victoria Hotel, Waiting In The Wings
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