..

Full Tilt Poker has Been Sold

Written by:
C Costigan
Published on:
Jun/30/2011
Full Tilt Poker has Been Sold

A group of European investors have purchased Full Tilt Poker in a deal that could see US players recover up to $150 million.

Full Tilt Poker was indicted on April 15 by the US Government on charges of money laundering and bank fraud.   The company has been unable to pay back US players.

The company had its license yanked yesterday with the site down ever since.

From the LA Times:

Attorneys associated with Full Tilt said the company signed an agreement Thursday with a group of investors who would put up enough money to pay back players and in doing so attain a majority stake in Full Tilt's Irish parent company, Pocket Kings. The attorneys spoke anonymously because of the sensitivity of ongoing negotiations with the federal prosecutors in Manhattan who brought the charges.

The money is also intended to allow the company to settle a civil lawsuit brought against it by the U.S. attorney's office at the same time as the criminal indictment, the attorneys said.

The government is seeking to recover $3 billion from Full Tilt, Poker Stars and Absolute Poker.

This story is developing…

- Costigan

Poker News

California Attorney General Orders Shutdown of Magnolia Card Room

California Attorney General Orders Shutdown of Magnolia Card Room

Attorney General Xavier Becerra has ordered the shutdown of a California card room out of concerns that the establishment is ‘seriously underfunded’ and will be unable to pay poker players.

Ho Yeah! Winstar World Resort and Maria Ho on How to Play Pai Gow Poker

Learn the basics from WinStar World Casino and Resort Ambassador and Pro Card Player, the amazing Maria Ho.

Latest Poker News

Welcome to our new Poker News blog, all the latest tournament, player and juicy stories related to the game.

ACR Launches Blitz Bonus Builder

ACR Launches Blitz Bonus Builder

If your New Year’s resolution is to make more money in 2020, The Americas Cardroom Blitz Bonus Builder promo is a great way to start.  From January 1st until January 10th, you’ll earn $10 bonus cash for every 250 Blitz Poker hands you’re dealt.  Earn up to $100 bonus cash daily ($1,000 total).

PokerStars Winter Series 2020: 84 Events, Buy-ins Starting at $5.50, $50 Mil in Prizes

PokerStars Winter Series 2020: 84 Events, Buy-ins Starting at $5.50, $50 Mil in Prizes

PokerStars this week announced over 80 events will take place from now through January 13 in its Winter Series 2020 extravaganza with $50 million in prizes guaranteed.  The odds of winning the $5,200 Winter Series Main Event were set at 50 in 1,000,000.

Syndicate