More Waiting Lies Ahead for Full Tilt Poker PlayersPublished on July 1st, 2011 5:25 pm EST
Last evening, Nathaniel Popper of the Los Angeles Times reported that a "group of European investors" were set to buy Full Tilt Poker.
The deal would reportedly include enough money to pay back US players as well as "allow the company to settle a civil lawsuit brought against it by the US Attorney's office".
The unnamed European investors would reportedly buy a majority stake in Pocket Kings Ltd.
Many people were waiting to see if any kind of news would hit the wire before the European stock exchanges opened on Friday, but none came.
It appears as though a deal has not been inked to sell Full Tilt Poker as of yet. Having said that, the general consensus is that things are "looking good" but that there are numerous issues that still need to be worked out. Some of these issues are very big.
According to the Wall Street Journal, the deal is still "tentative" and isn't expected to close for "at least three weeks". According to the WSJ, the investors want to make sure that Full Tilt will be able to reach a deal with US authorities before signing off on the deal. In addition, the investors will reportedly try to reach an agreement with the Alderney Gambling Control Commission to have Full Tilt's license reinstated.
Until the potential deal closes, Full Tilt Poker will likely remain closed. Players with money on the site are going to have to play the waiting game and hope for the best.
Source: WSJ.com - Full Tilt Owner Finds Buyer
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