BREAKING: Full Tilt Poker sale to GBT appears final

Posted by Steve Ruddock on Nov 17, 2011 Posted in Legal Poker News, Online Poker News | No Comments »

fulltiltpoker soldIn a post by CNNMoney.com that was later taken down (the article appears to be under embargo at the moment) it was stated that Full Tilt Poker had been sold to Groupe Bernard Tapie for $80 million. If the story turns out to be accurate (which is quite likely since there is no reason CNN would make-up such a story) than the poker community as a whole may be feeling similar to recent WSOP Champion Heinz Pius.

According to a Yahoo story (about the CNN story), “As part of the deal, Full Tilt Poker had to agree to forfeit its assets to the U.S. government, which then sold the assets to the GBT,” and as was rumored over the past few weeks, GBT will take responsibility for non-US players funds that have been frozen at Full Tilt Poker, while the DOJ will have the unenviable task of repaying US players who haven’t had access to their Full Tilt funds since April 15, 2011.

According to the article, the DOJ plans to dismiss the civil suits filed against Full Tilt poker, but will keep the civil and criminal complaints against individuals active.

We’ll keep you posted on developments as they come to light…

 

***UPDATE***

According to the website Poker Player Newspaper, Wendeen Eolis confirmed the sale with GBT lawyer Benham Dayanim: “The next step is to obtain an agreement from the Full Tilt Companies. I anticipate it will happen. It allows for players to be repaid, and resolves the FTP forfeiture action by the Government.”

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