Full Tilt Now Busy Negotiating with Potential Investors
Online poker players who are still hopeful of recovering funds from their Full Tilt Poker accounts were jubilant when rumors arose of a group of European investors mulling over investing in Full Tilt Poker and rebranding it for the European online poker market. Many poker players who lost their online poker funds felt that Full Tilt Poker would refund its poker players if investors pulled this fallen giant to its feet and rejuvenated it as a new brand.
Full Tilt Poker’s troubles began on April 15, 2011, a day christened as the “Black Friday of online poker,” when the US Department of Justice (DOJ) cracked down on three major online poker rooms, including Full Tilt Poker, seized their domain names and arrested its executive officers. Although US players lost their Full Tilt Poker accounts and any money they might have had in these accounts, Full Tilt Poker continued offering online poker services to non US players, owing to which non US players remained unaffected by the events of Black Friday at least for the time being. However, the Alderney Gambling Control Commission (AGCC) suspended Full Tilt Poker’s license to provide online poker services, as a result of which even non US poker players could no longer access their Full Tilt Poker accounts.
Last night, a Poker News report stated that Pocket Kings, the company that owns the Full Tilt Poker brand, has issued a press release stating that Full Tilt Poker has concluded its discussions with one of the potential investors who was considering investing in the giant poker site last week. This means that Full Tilt Poker must now be considering other potential investors.
According to the press release, Pocket Kings Ltd. plans to continue holding discussions with its present investors, but has now begun negotiating with more potential investors to come to a decision regarding the sale or partnership of Full Tilt Poker and its assets.
Hopeful poker players immediately became apprehensive and began asking questions. They wanted to know why Full Tilt Poker has concluded negotiations with one potential investor and is now considering negotiating with more potential investors. In other words, the fact that Full Tilt Poker has not yet reached any agreement with any potential investor is worrying poker players still waiting for their funds.
Ever since Black Friday, Full Tilt Poker has been fighting a losing battle. The online poker room failed to refund its US poker players although its rival PokerStars immediately refunded all its US players. The loss of its licenses to provide online gaming services was an added blow to the floundering site. Besides, Full Tilt Poker had to face severe criticism for its failure to communicate effectively with its poker customers, especially now that not a single Full Tilt Poker player can access his/her account.
Pocket Kings Ltd., however, has reassured players in its press release that Full Tilt Poker will work hard to establish better communication with its customers and that it will give top priority to obtain capital to refund its players.
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