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    Full Tilt Poker could have new owners by next week

    Posted by Quad Jacks July 8, 2011

    News released today that Full tilt deal could be sealed by next week, read below to see my point of view on the whole take over as well as information that has been released today

    Full Tilt Poker deal could be sealed by next week

    It had been reported earlier in the week by the possible FTP insider who appeared on two plus two forums that the deal currently being reported regarding Full Tilt being sold to European investors was 75% complete, today news was leaked that this potential deal could be completed as early as next week. It has not yet been revealed who these European investors are, and it seems that they will be kept anonymous until the deal is finalised, this news breaks just a day after www.gambling911.com released a story that Full Tilt Poker CEO Mr Ray Bitar had reportedly been voted out of the company, but this seems not to be the case according to a Full Tilt attorney who spoke with www.egrmagazine.com and had the following to say “We can completely deny the reports that Ray Bitar is no longer CEO.

    In fact that [rumour] really ruined his day yesterday. It doesn’t help anyone for sites to be reporting news that’s not true,” In my personal opinion for any deal to be completed my first step would be to ensure that Mr Bitar who was indicted on April 15th was no longer involved with the company in any way, but again who’s to say Mr Bitar is no longer CEO of Full Tilt and this attorney is just covering up for Full Tilt, again there has been no concrete proof that Ray Bitar is or is not CEO of Full Tilt anymore, but I have a feeling news will soon be released regarding his position as well as many others within Full Tilt before any deal has been made.

    Full Tilt Poker are now hoping that terms of the investment that was first reported late last week will clear the way to potentially settle current issues with the Department Of Justice (DOJ), meaning that if completed this could be good news for not just the USA players who have had money locked up since April 15th but also players from all around the world who have had trouble getting money off since Black Friday before getting their money locked up indefinitely last Wednesday. A Full Tilt lawyer also suggested that they are hopeful this news will bring the outcome of the class action law suit submitted by four poker players including Todd Terry a former lawyer himself to be dismissed.

    If this can be done and is not the usual speculation that has been going around since Poker Stars paid all of their players, Full Tilt could be on the path to gaining a small amount of respect back from the poker community for not doing what it seems Ultimate Bet have decided to do and not pay out any players or even release one piece of information regarding players accounts, although I will be surprised if what Ultimate Bet is doing surprises any of the poker community due to their already shady past.

    It has been suggested the new potential owners have already met with Alderney and France, and will be meeting with the Department Of Justice. This of course is just rumours at the minute until there has been some sort of press release from all parties involved I would take this as you see it and not hold your breath until everything has been completed and proven.

    Another thing the Full Tilt insider has mentioned was that he believed Alderney had already given Full Tilt back their licence, but this is not the case as the Director of ecommerce Development for Alderney Robin Le Prevost says to www.egrmagazine.com that he can confirm that, that speculation is not true. Meaning the proposed hearing to be held on the Tuesday 26th July at this moment seems to still be going ahead. This also proves what most had thought in that Full Tilt Poker will not be back up and running as soon as tomorrow, just a week after having their licence suspended.

    One thing piece of information that did catch my eye though and had me thinking was the following quote, said by a Full Tilt attorney in which he believes to his knowledge that ‘it’s their [European investors] first step into the egaming sector.” This can be seen at the following link http://www.egrmagazine.com/news/1677627/full-tilt-deal-could-be-sealed-next-week.thtml?

    The above quote had me thinking for a while for a few reasons the main one being why would investors with little to no experience within the egaming sector want to go straight in at the deep end by taking over a currently troubled site such as Full Tilt, obviously Full Tilt has an abundance of potential to become again what they once were a market leader battling to be the best poker site in the world along with Poker Stars, with the player database they possess, and their popular niche’ software of rush poker which has become a huge success since its release resulting in many players simply becoming just rush poker players.

    The main issue is though will players be able to gain trust in new owners that have no previous experience within the sector, my opinion would be no as look what happened before when trust was laid into owners that had no clue of what they were doing ‘Black Friday happened’. These new owners would really need to prove themselves before the poker community will welcome them.

    My overall opinion on the above information at this moment in time is that it is nothing more than rumours and speculation and that players should not get their hopes set too high just yet as there is still a lot that needs to be done and a lot that needs to be proven first by these new potential owners

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