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Possible French Investor for Full Tilt Poker

September 27, 2011

After rumors have been circulating around the Internet that Full Tilt Poker did in fact have some investor with the guts to buy Full Tilt out of its debt and refund all the players funds that were otherwise lost but not forgotten, it seems a French investment group is actually considering the proposition. They are so serious that they have carried through with the necessary actions that would be needed to finance and finalize a takeover.

A takeover would cost an investor up to $300 million just to repay players after operating costs were mixed with player funds, which caused the online poker room to lose its license and ultimately be accused of operating a “Ponzi Scheme” by US media outlets.

While most players no longer feel loyalty to the Full Tilt brand and could care less if the site gets revived, they do care about their money, so many are praying for a viable investor to surface. So the news of this French company has given players new hope that they might see their money once again.

The official Full Tilt attorney, Jeff Ifrah, made a statement regarding the takeover:

“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.”

Hopefully the AGCC will take into consideration the fact that the company still has hope to rebuild itself and do things right, including paying all those players back.

Ifrah also mentioned that the potential investors have hired lawyers to hold meetings with the US Department of Justice. They are hoping to work things out with the US. All of these factors will contribute to the decision of the investors, which makes perfect sense. They want to invest in a company that will be on good terms with the AGCC as well as with the US, or it just won’t be worth it.

Written by Bea · Filed Under Poker News 

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