Full Tilt Poker Sold?

Full Tilt Sold?
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Last week's biggest news, even with the ongoing World Series of Poker battles, was of course, Full Tilt Poker going down after loosing their eGaming license. On Wednesday the Alderney Gambling Control Commission (AGCC) had suspended FT's license on proving online poker and gambling services which resulted in all of their games being stopped and players left with no clue of what was going on.

Full Tilt's official website only displayed the following message: “Scheduled Maintenance In Progress - The system is currently down for maintenance. Please check back soon!”

However, good news came in just a few days later – despite Full Tilt's uncertain future after the Black Friday and especially after last week's events, a couple of investors showed great interest in acquiring the company and paying it's debts to the players. According to Los Angeles Times article, Full Tilt Poker is to be purchased by a “a group of European investors in a deal that could allow U.S. players to recover as much as $150 million.”

The LA Times journalist Nathaniel Popper reported that Full Tilt had signed an agreement with the possible investors according to which the company would receive the funds it needs to pay back their U.S. players who have been left out by FT after April 15th.

The group would acquire the major part of the Pocket Kings', which is Full Tilt Poker's parent company, shares. The financial injection would also allow Full Tilt settle the lawsuit against the U.S. Attorney's Office.

Another news coming with the possible acquisition and saving of the company is that the still Full Tilt Poker pro Phil Ivey, who has declared not playing this year's WSOP because of FT not paying back $150 million to their U.S players and sued Tiltware – Full Tilt's software company, has decided to withdraw his lawsuit. David Chesnoff, Ivey's attorney said that “Mr. Ivey intends to dismiss his lawsuit as he believes Full Tilt is taking steps to see that the players are paid.”

As in case of Black Friday or the issue of returning funds to their U.S. players, Full Tilt Poker have made no comments or official statements on the possible acquisition of the company, so no farfetched conclusions can be made regarding the news. All we can do is just wait and hope that the situation is solved fast and with the best players' interest in mind.

Stay tuned to NeverwinPoker for more as the story develops.