Is the sale of Full Tilt Poker a done deal?

Posted by Steve Ruddock on Sep 28, 2011 Posted in Poker News | No Comments »

fulltiltpoker soldAdam Schwartz, one of the hosts of the 2+2 Poker Podcast, dropped a bombshell via Twitter on Tuesday when he posted: “Heard a rumor that the FTP sale to French investors was done,” Of course Schwartz received a number of responses to this news, but failed to give any specifics other than saying he considered the source very reputable and the rumor to be true; which he reaffirmed in a follow-up tweet: “I would be very surprised if it wasn’t. Someone very close to the negotiations would have had to lie to him.”

Schwartz also defended his comment on the 2+2 poker forums later in the day where he turned up in the obligatory thread on the matter to write the following:

“I was told by what I feel (and most of you would too btw) is a very reputable source. The person doesn’t want me to say their name.

Obviously I wouldn’t have said it if someone sitting next to me in the $1/$2 game told me. If some of you are unhappy that I tweeted it, what can I say, I felt it was worthy of some confidence”

Schwartz is a well-respected member of the poker community and has no history of outrageous remarks and claims, coupled with the fact that he has a ton of contacts and friends in the poker world; the “reputable source” is likely to be someone with a major role inside Full Tilt Poker.

There has been no official statement by Full Tilt Poker or any group of potential investors, but Full Tilt attorney Jeff Ifrah did tell on Tuesday that a potential deal was in its final stages, with the only the sticking point being the status of Full Tilt Poker’s AGCC license.

Here are Ifrah’s comments to in their entirety:

“The investors are totally committed to doing this- we’ve met with them and seen the funds. Their primary concern right now is the AGCC’s decision on Full Tilt’s license. The investor’s position is that if Alderney revokes the license, they won’t go through with the deal because it makes things too difficult.”

“They called and volunteered to discuss their commitment directly with the commissioners. Without hesitation, they are prepared to review the terms of their offer. Additionally, they’ve hired a prominent and respected lawyer in the gaming industry and are setting up a meeting with the DOJ to try and work out the issues Full Tilt has in the U.S.”

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