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More Delays from Full Tilt

The woes of Full Tilt have been well publicized since Black Friday, when the US government seized bank accounts and the domains of Full Tilt and PokerStars as well as indicting company founders and executives with wire fraud, money laundering, and breaking US laws designed to eliminate online gambling.

While PokerStars quickly refunded more than $100 million to US players and continues to serve players outside the US (easily remaining the world's largest poker site), it's been a steady downhill slide for Full Tilt and a seemingly unending litany of woes.

International players began leaving the site in droves as it became clear the Full Tilt lacked the money to refund the estimated $150 million owed to US players, with a further nail in its coffin coming on June 29th when the Alderney Gaming Control Commission (AGGC) suspended Full Tilt's gaming license.

The Full Tilt site went dark shortly thereafter and has remained down ever since, with only a few glimmers of hope here and there, primarily from a rumored deal with European investors who reportedly are interested in buying the company's European operations and licenses.

A much-anticipated hearing with the AGCC was scheduled for July 26, with Full Tilt clients and the online casino and poker industries hoping to get more clarity into Full Tilt's current state, the potential deal with investors, and information on a possible timeline for refunding money owed to US players.

Those hopes were dashed, however, as the hearing ended with an adjournment to September 15 and little new information revealed. Full Tilt attorney's successfully argued that publicly airing details would hurt the chance of pending deal to sell the company being completed, and the commission agreed it was in the best interest of Full Tilt customers to delay the hearing.

27-Jul-2011, 10:23


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