Deadline for GBT Buyout of Full Tilt Missed

March 21, 2012

While online poker players in the US and elsewhere in the world still await the finalization of the Groupe Bernard Tapie (GBT) buyout of Full Tilt Poker in hopes that they might see some of their money, the deadline for the deal was supposedly March 16th. This deadline was an extension of a previous deadline when the $80 million deal would have been finalized, though both sides reported that they were confident the deadline would be met.

Currently, the French firm GBT has an agreement with the US DOJ that once GBT acquires Full Tilt Poker, the feds have agreed to drop all civil complaints against the online poker site. Furthermore, once the buyout is complete, GBT will pay all of Full Tilt Poker’s outstanding debts, including player account balances owed.

Canadian poker pro and PokerStars sponsored pro Daniel Negreanu doesn’t believe that players jilted by Full Tilt Poker will ever be repaid for the money that was supposed to be in their player accounts, but was merely just a virtual balance, and there was never any real money there to back those balances. Negreanu, who has publicly criticized Full Tilt Poker in the past, said in an interview, “The players are not getting paid. It’s over. It’s gone. Forget it.”

Negreanu has most recently been verbally attacking many individuals within the poker industry via his video blog, including Howard Lederer, Ray Bitar, and Chris Ferguson, whom he has referred to as “shameful little weasels” and “scumbags.”

As passionate as Negreanu may be, many are hoping that he’s wrong and that with an online poker miracle, GBT will return their money to them. Their only hope is the conclusion of the deal between GBT and FTP.


Comments are closed.