Full Tilt Poker Statement Released; AGCC Hearing Forthcoming

September 15, 2011

Full Tilt Poker’s looming meeting with the Alderney Gambling Control Commission (AGCC), scheduled for next week, has sparked a statement release by Full Tilt Poker. The statement begins with a recap of what has went down since Black Friday, including the AGCC’s June 29th decision to suspend Full Tilt Poker’s gaming license. New information in the release concerns the dire straits of the company’s financial standings and their continued belief that they will redeem themselves, estimating that they need a €12 million reduction in costs to optimize their operations.

The statement reads: “This program is intended to streamline the company’s operations in order to better position itself for future growth and profitability in Full Tilt Poker’s markets outside of the U.S. If all of the required cost savings were to be achieved through redundancies, approximately 250 positions could be affected; however the exact number cannot be confirmed until the conclusion of a consultation process with its workforce.”

Again, Full Tilt Poker has just restated what everyone already knew, avoided the fact that player funds have still yet to be redeemed, blamed everyone but themselves, and now plans to fire 250 employees. Perhaps they are setting up for the AGCC meeting in hopes to get a little reprieve from the hearing, but until they own what’s going on, it is not likely that anyone will have much sympathy for them.

Whether or not their ploy will work will not be known by the public immediately, as the meeting will be held in private on September 19th, and it is unknown when the information will be released to the public. What is even more mindboggling than the statements that have come from Full Tilt Poker is their somewhat positive outlook on the future of their operations. What lies ahead for the former online poker empire remains a mystery.


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