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September 21st, 2011 10:13 pm EST

French Investment Group Reportedly Interested in Full Tilt



Full Tilt Poker logo - Black version

Is a miracle about to take place, or is this just going to be more disappointment for Full Tilt Poker's customers?

This story has been rapidly evolving throughout the day.

First off, Jeff Ifrah, one of Full Tilt Poker's lawyers, emailed this statement to somebody who then posted it on TwoPlusTwo:

"Thank you for asking how you and other players can help. Right now it is important to encourage the AGCC to delay any ruling for a minimum of 30 days in order to permit a timely transition to a new ownership structure. The AGCC is aware of the identity of the new ownership group. It does not involve anyone associated in the slightest way with the current FTP membership. I plead with all of you to do this and unite in this one effort. A negative AGCC ruling will cause all efforts that have been undertaken to secure this investor group to fail and leave customers in the cold. It is not necessary for the AGCC to issue any negative ruling now. The company is not operating and there are investors truly interested in closing a deal with the company. I can assure you that the investor deal includes repayment of ALL player obligations. We have come too far in these months since Black Friday to let this fall apart now. Please."

According to CalvinAyre.com, the AGCC is likely going to release their decision over the next 24 hours.

Ifrah entered the thread on 2+2 and claimed that there was, in fact, a serious investor that was interested in purchasing Full Tilt Poker, and if the AGCC chose to revoke Full Tilt Poker's licenses tomorrow, then this would seriously impact the chances of a deal going through.

Subjectpoker.com has more on the situation tonight.

According to Subjectpoker.com, "an executed term sheet/letter of intent" is in place. They also claim that "the funds of the potential investor have been vetted by Full Tilt and the US Department of Justice."

Also, the DoJ has reportedly received a copy of the letter of intent, and the AGCC is also aware of "the pending deal".

The next 24 hours are going to be very interesting, and will likely decide the fate of Full Tilt Poker.

Edit: According to Ifrah, any deal would include full repayment of all player balances



Filed Under: Online Poker Rooms




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