Most online poker players are already aware that Groupe Bernard Tapie (GBT), the French investment group is currently working on taking over Full Tilt Poker and in the process making sure that all players’ bankrolls worldwide are repaid. GBT has been in discussions with the US DOJ and have reached a signed agreement with them which includes the purchase of the Full Tilt Poker for $80 million provided that certain conditions are fulfilled.

GBT has subsequently been investigating the financial inner workings of Full Tilt and have uncovered that several former pros owe large sums of money to the company totaling $16.5 Million. Considering the purchase price of $80 Million, the $16.5 Million in outstanding professional player debts to Full Tilt Poker is significant and could potentially put the deal in serious jeopardy.

To date GBT has been quiet about the deal for the most part, preferring to hold closed meetings keeping issues encountered private, however in this case Groupe Bernard Tapie have made the issue public regarding several pro’s outstanding debts in order to apply pressure to those owing money to the company and possibly to educate the public that those implicated are not all as guilt free as they claim to be regarding players getting their money back from FullTilt.

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Some 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.

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Great news for fans of Full Tilt Poker, the former #2 venue in online poker and even better news for those who have had their bankrolls frozen at the site since Full Tilt’s worldwide closure after the AGCC revoked their gaming license.

Full Tilt Poker looks set to make a comeback deal with Groupe Bernard Tapie taking over command of the once so popular poker room, the deal which has the approval of the DOJ will include paying all outstanding players worldwide that have money suspended in their Full Tilt player accounts.

Although exact details of the deal have not been fully disclosed to date, Managing Director of Groupe Bernard Tapie, Laurent Tapie has confirmed that “payment terms are defined” and that he expects an agreement to be drafted and signed within the next two weeks.

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