PokerStars May Be Ready to Announce Full Tilt Poker Acquisition Plans
30/04/12 09:37 Filed in: Poker | Poker News
It’s been an interesting year for fans of Full Tilt Poker. Following the Black Friday legal scandals that rocked the online poker world in 2011, Full Tilt Poker found itself in a precarious position where it was left without an operator’s license, trying to reestablish itself as a business and find a way to reimburse site members without the revenue to do so. Now, disgruntled players may get the outstanding money they’ve been waiting for as new developments come to the troubled poker platform.
The latest news regarding Full Tilt Poker will come as quite a shock to many industry observers: renowned online poker network PokerStars may be about to acquire the site. This comes after a deal by Groupe Bernard Tapie — an agreement that looked like it was finally going to bring an end to the Full Tilt story with a purchase of the company — fell through, leaving site members in the lurch. Groupe Bernard Tapie was unable to agree to terms regarding paying back player funds causing the potential deal to fall through. Now reports have come in claiming that PokerStars has picked up where Groupe Bernard Tapie left off, coming to a settlement with the United States Department of Justice (current holders of the Full Tilt license) that would see the site making the purchase and providing wronged Full Tilt Poker members with the money they’re owed.
For now the acquisition is still only rumoured, but, if PokerStars does decide to go through with the purchase they can be expected to pay around $750 million in finalizing the deal. Further details should appear sometime in the near future.
The latest news regarding Full Tilt Poker will come as quite a shock to many industry observers: renowned online poker network PokerStars may be about to acquire the site. This comes after a deal by Groupe Bernard Tapie — an agreement that looked like it was finally going to bring an end to the Full Tilt story with a purchase of the company — fell through, leaving site members in the lurch. Groupe Bernard Tapie was unable to agree to terms regarding paying back player funds causing the potential deal to fall through. Now reports have come in claiming that PokerStars has picked up where Groupe Bernard Tapie left off, coming to a settlement with the United States Department of Justice (current holders of the Full Tilt license) that would see the site making the purchase and providing wronged Full Tilt Poker members with the money they’re owed.
For now the acquisition is still only rumoured, but, if PokerStars does decide to go through with the purchase they can be expected to pay around $750 million in finalizing the deal. Further details should appear sometime in the near future.
