December 16,2011 : FULL TILT POKER: HAS A DEAL BEEN DONE?
Full Tilt Poker, Groupe Bernard Tapie and the Department of Justice are not saying…
Has a deal been concluded between Groupe Bernard Tapie, the French company bidding for the embattled Full Tilt Poker, and the US Department of Justice?
Subject:Poker, which appears to have insider sources, claims that it has, clearing the way for the takeover to progress…and yet neither FTP, GBT or the DoJ would comment when approached by various media.
On Thursday the poker information site claimed that, following the acquiescence of FTP shareholders, the DoJ had agreed to allow the transfer of FTP assets that will progress the acquisition further…and hopefully see US players paid by enforcement authorities.
A figure of $80 million was punted about as the amount that GBT will pay to the DoJ for the FTP assets it holds, adding that in addition GBT will be responsible for the amounts owed to non-US players who remain unpaid…an estimated $150 million.
Apparently the billion dollar civil suit launched by the DoJ against Full Tilt management will be withdrawn, although criminal proceedings against the individuals named in the Black Friday indictments will continue.
Former FTP directors will not be permitted to hold ownership positions in the company once the acquisition has been completed.