News

Report: French group finalizes deal to buy Full Tilt

17 November 2011
By Aaron Todd

Groupe Bernard Tapie (GBT) may have finalized a deal to purchase Full Tilt Poker, according to a report published by Yahoo and CNNMoney.com.

The story contained a note at the beginning, noting that it should be embargoed (i.e., not published) until one of the reporters who wrote the story received final clearance from a lawyer with GBT. It also contained other notations that weren't meant for publication.

The U.S. Attorney's Office for the Southern District of New York told Casino City it had no comment on the report and would not confirm nor deny any agreement with GBT.

According to the story, GBT will pay the U.S. Department of Justice $80 million for the company, which was forfeited to the U.S. government as part of the deal. Under the terms of the reported deal, GBT will be responsible for repaying players outside of the U.S., while Americans will "have to apply to the DOJ for compensation."

Full Tilt owes players about $390 million, $150 million of which belonged to American players.

The story also indicated that the government would dismiss civil claims against the company, but would continue to pursue judgments against individuals.