Desktop View

Published: 18th November 2011 Written by Poker News
Updated: 8th January 2024

full tilt poker dealSome good news for Full Tilt Poker players, the Groupe Bernard Tapie have reached an agreement with the Department of Justice and signed a deal which includes:

  • GBT repaying customers outside of the USA.
  • DOJ to repay US players from seized funds.
  • GBT acquiring Full Tilt Poker for $80 million.

Full Tilt Poker still need to agree and sign the deal to start the process of the sale of the company, while there may still be further negotiations, representatives from both parties seem optimistic about the recent developments. Hopefully we’ll see Full Tilt Poker open it’s doors to players and restore their negative reputation and regain players trust.

Full Tilt Poker Deal to be signed

Groupe Bernard Tapie have offered an amount of $80 million to purchase FullTiltPoker, an agreement between DOJ and GBT has been signed. The agreement includes repaying all customers who have had funds seized since Black Friday, April 2011.

Groupe Bernard Tapie have agreed to repay all player outside of the USA, and DOJ agreed to refund US players using the seize player funds. The Full Tilt Poker deal draws closer to relaunch with a solution for the cleaning up mess the former owners had got themselves into.

Full Tilt Poker Statement – PokerStrategy

Ray Bitar, Full Tilt Poker co-Founder responds: “I am extremely pleased with the efforts of the Department of Justice, and the Groupe Bernard Tapie corporation, and appreciate their continued dedication in working towards a mutually beneficial agreement that will facilitate repayment of the players .”

Behn Dayanim, Groupe Bernard Tapie attorney, comments: “A letter of agreement with the DOJ has been executed. It states that in the event that the Full Tilt companies consent to a forfeiture of their assets, GBT will purchase those assets. This is the first major step in the process of a sale; the next steps include Full Tilt consenting to the forfeiture and a definitive final agreement with the DOJ.”

Jeff Ifrah, Full Tilt Poker lawyer, commented: “The deal is clearly historic. It’s an incredible achievement. A lot of thanks and gratitude are owed to both GBT and the DOJ. Clearly there remain a lot of questions on the logistics of a sale, including when players will get paid, how they’ll file claims, and when Full Tilt will become operational. I hope I can help obtain answers to those questions quickly, and make information available to players as soon as possible.”

These statements were sent exclusively to PokerStrategy for more information please refer to the source.