• DOJ May Have Deal in Place For Sale of Full Tilt Poker

    19 November 2011

    According to a Thursday article on CNNMoney, a deal was reached between Groupe Bernard Tapie (GBT) and the US Department of Justice. The article claimed that this deal was brokered by the DOJ and cleared the way for GBT to purchase Full Tilt Poker. The article however was taken down quickly after it was put up.

    An article on CBS news however has also posted an AP story that also claims that a preliminary agreement has been reached with prosecutors. According to Benham Dayanim, a lawyer for Groupe Bernard Tapie, he has a letter signed by the U.S. attorney’s office that could bring the sale of Full Tilt to fruition.

    This may help get gamblers both overseas and in the U.S. get their money back. Dayanim claims thought that, “There’s nothing tremendously fixed in stone. It’s the first step in a process,” Dayanim added. “What it provides is that if the Full Tilt companies agree to forfeit their assets to the United States, the United States will sell those assets to Groupe Bernard Tapie.”

    According to Jeff Ifrah, a lawyer for Full Tilt CEO Raymond Bitar, there is a lot to be optimistic about with this deal that will allow the group to pay $80m for the online poker company that has been in a freefall since the DoJ leveled indictments against them.

    According to the proposed deal, The Tapie group will pay all players outside the United States, players within the United States would have to file a claim with the Department of Justice. According to Dayanim;

    “I’m optimistic that this deal will go forward. This deal offers the surest path toward compensation for players and toward restarting the site as a European-facing poker site.”

    Related News

    • 17 October 2015

      Steam Gaming Platform Target for Full Tilt

      Full Tilt Poker has recently applied to become a part of the Steam online gaming platform. This platform helps to put out games for online and computer-based play (as well as play through smart televisions), and it could lead to some pretty interesting situations if they're able to get included. We haven't really heard of any online gambling site trying to get in on a gaming network like this before, so it's really a new development in every sense of the word. How Steam Works

      Read full article
    • 08 October 2015

      Another Set of Full Tilt Payments Are Being Issued

      On April 15, 2011, an event happened in the online poker world that's been dubbed Black Friday. This event had to do with US federal indictments against a number of the top online poker rooms in the world including PokerStars and Full Tilt Poker. The Rational Group, owner of PokerStars, made a deal with the Department of Justice to purchase Full Tilt Poker and pay off the balances for all of their players since Full Tilt didn't have the funds to do so on their own.

      Read full article
    • 05 August 2015

      Amaya Sells Chartwell and CryptoLogic to NYX Gaming

      The Amaya Gaming Group has made an enormous amount of noise in the news over the past year, and they've done it again with a key deal that shows a lot about their investment strategies. They have sold Chartwell and CryptoLogic, two online casino software providers, to NYX Gaming. This deal was for $110 million in cash and $40 million in stock, and this comes after they've held both companies for less than four years. The Original Purchase Back in 2011, the Amaya Gaming Group bought Chartwell.

      Read full article