..

Why Full Tilt Poker, Absolute Poker are Likely to Eventually Pay US Customers

Written by:
C Costigan
Published on:
May/31/2011
Full Tilt Poker, Absolute Poker

With US customers still waiting for payouts from Full Tilt Poker and Absolute Poker, there are reasons to be optimistic.  Both companies, despite being indicted on April 15 by US authorities, do have value.

Assuming payouts are made, Full Tilt Poker and Absolute would no longer have a tainted reputation.  The fines required to be paid as part of the indictments are but a drop in the bucket compared to the ultimate value of these companies.

Full Tilt Poker and Absolute Poker, respectively, have something other acquisition-minded groups desire:  A solid software platform and amazing customer lists.

The software is vital since any company looking to enter the online poker market will need a time-tested sustainable product.  The customer lists need little explanation.  Failure to pay in an expedient time period has left a bad taste in the mouths of poker players currently but time will heal all wounds should these companies pay out in full. 

Both Full Tilt Poker and Absolute Poker remain in business.  Absolute still serves the US market through its parent company, Blanca Gaming, which offers a lucrative online bingo site.  Absolute Poker has not released any further statements since the second week of May.  Full Tilt issued a statement on Monday, acknowledging its poor communications with affected players and the online poker community as a whole. 

We acknowledge that our lack of communication reflects poorly on us, and rightfully so. We have been too optimistic in estimating how long it would take to sort through the issues we have faced since Black Friday. And as frustrating as the delays have been for us, we recognize that it cannot compare to the frustration you have been feeling.

We further recognize that our lack of communication has led to much speculation and many unsubstantiated rumors, which have often been contradictory. With this message, we hope to clear up as much confusion as we can, while at the same time keeping in mind the constraints imposed on us as a result of the cases brought in the Southern District of New York.

Both Full Tilt Poker and Absolute have retained big name law firms to represent them.  The two companies are charged with fraud and money laundering in addition to violating the Unlawful Internet Gaming Enforcement Act (UIGEA). 

- Christopher Costigan, Gambling911.com Publisher

Gambling News

2022 Champions League Final Betting Props

2022 Champions League Final Betting Props

Below you will find all the prop bets available for Saturday's Champions League Final.

Attorney Paying Ex-Casino Mogul Steve Wynn Defamation Claim

Attorney Paying Ex-Casino Mogul Steve Wynn Defamation Claim

Former Las Vegas casino mogul Steve Wynn has accepted an undisclosed financial settlement to end his federal defamation lawsuit against an attorney.

2022 MLB Quarterly Report

2022 MLB Quarterly Report

Many baseball teams have played between 40 and 42 games thus far in 2022, meaning that we’re now officially past the quarter-pole of the season.  

Canelo vs. GGG III Betting Odds Now Up

Canelo vs. GGG III Betting Odds Now Up

Canelo Alvarez is going to “warm up” against 40-year-old Gennadiy Golovkin before he exercises a rematch with Dmitry Bivol.

Atlantic City's Casinos Earnings Rise, But Some Still Lag

Atlantic City’s casinos collectively saw their profitability increase in the first quarter of this year compared with both a year earlier and also the pre-pandemic period.

Syndicate