..

French Regulators Cut Off Full Tilt Poker: Company Unable to Prove it Can Pay Players

Written by:
C Costigan
Published on:
Jul/05/2011
France Full Tilt Poker

Just days after the Alderney Gaming Commission suspended Full Tilt Poker’s license in the UK and elsewhere throughout Europe, French authorities have done the same.

French online gambling regulator ARJEL announced the suspension over the weekend following an effort to get FTP to demonstrate its financial viability.  Full Tilt Poker was unable to provide the regulatory body with necessary proof that it was able to pay customers.

Full Tilt has yet to pay back any US customers since authorities in that country indicted two executives and fined what was the world’s second largest online poker room over a billion dollars. 

The LA Times reported late last week that attorneys for the firm claim a group of European investors were set to inject funds into the struggling company in the coming weeks, however, many in the poker community speculate that FTP is only “trying to buy time” and they will believe it when people start getting paid.

Another company indicted at the same time as Full Tilt Poker, PokerStars, has since paid back all its US players in full and continues to operate outside the United States without interruption.

Analyst Daniel Stewart & Co, said, "It is still unclear as how long the suspension would be implemented but clearly French citizens would no longer be able to play on Tilt’s dot.fr site following the suspension.

“In our view the latest developments (Alderney & France) will have done irreparable damage to the beleaguered poker operator, and we expect further migration to the likes of Stars, BPTY [bwin.party], 888 and PTEC [Playtech] to follow”

Gambling911.com is your place for all the latest coverage related to Full Tilt Poker.

- Chris Costigan, Gambling911.com Publisher

Poker News

$5,000,000 High Five Tournament Series Returns 4 20 Days

$5,000,000 High Five Tournament Series Returns 4 20 Days

The High Five poker tournament at Americas Cardroom returns, bigger, better - and can we be blunt - four times richer than the previous tournament, with $5,000,000 in guarantees. It runs September 10th-29th.  And WE'ED love to see you win it.

Poker Player Calls Cops After Busting Tournament And Gets Herself Arrested

Poker Player Calls Cops After Busting Tournament And Gets Herself Arrested

An unidentified female poker player busted then got busted, literally, all after earlier offering to flash her breasts.

PartyPoker War on Bots Continues, Closes to Serbian Market

PartyPoker War on Bots Continues, Closes to Serbian Market

PartyPoker continues to wage war on bots, this time resulting in the termination of 121 fraudulent accounts and $76,267 and €88,351 confiscated.

Winners of Seminole Hard Rock Poker Open Announced

Winners of Seminole Hard Rock Poker Open Announced

For the fifth consecutive year, the Seminole Hard Rock Poker Open (SHRPO) concluded with the crowning of The Big 4 champions at the Hard Rock Event Center at Seminole Hard Rock Hotel & Casino Hollywood.

Embattled Houston Poker Room Wins Again

Embattled Houston Poker Room Wins Again

Nuisance lawsuits against Prime Social Poker Room and Post Oak Poker Club have been dropped.

Syndicate