Full Tilt pays back overdue licensing fees

[The Buzz]

Another day, another story about on the Full Tilt Poker saga. The disgraced online poker room has announced it has paid £250,000 in overdue license fees to the Alderney Gambling Control Commission.

From CardPlayer:

On 15th April 2011, the US Attorney for the Southern District of New York and the Assistant-Director-in-Charge of the New York Field Office of the FBI announced the unsealing of an indictment against 11 individuals, including some connected to Full Tilt Poker (“FTP”), alleging bank fraud, money laundering and illegal gambling offences. The AGCC, which licenses FTP, began immediate discussions with FTP’s management in order to protect the interests of players.

As a result of the AGCC’s investigations the decision was taken on 29th June 2011 to suspend the licences of the companies collectively trading as FTP. The AGCC has also imposed a condition that requires the licensees comprising FTP to arrange for the ring-fencing of identified players’ funds under their control.

On the 26th July 2011, the AGCC held a public hearing to consider allegations arising from the investigation. At the hearing the Commissioners of the AGCC, acting as a tribunal, decided to adjourn the hearing to a date no later than 15th September, as they felt that this was in the best interest of the players using FTP’s services.

The recent payment of overdue licence fees by FTP is also in players’ best interests since it allows commercial negotiations to take place that might result in a successful refinancing deal.

Further details regarding the exact date and venue of the next hearing will be announced as soon as possible.

[rak]

A precursor to getting its license back if it gets sold?

[GFPC]

At this point Full Tilt is dead no matter who buys it and what they do. No one in their right mind would ever trust them ever again. IMO they have lost all hope for reconciliation and I hope players get their money back and run fast.

Same goes for UB and Absolute, Doyles Room, SportsBook, Players Only and some others.

All of them have treated affiliates like garbage.

[TheGamblingGuru]

"Full Tilt pays back overdue licensing fees"

Yea, but that's just all smoke and mirrors and propaganda!

What would really be news is if your headlines read:

Full Tilt pays back long overdue players....

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[rak]

"Full Tilt pays back overdue licensing fees"

Yea, but that's just all smoke and mirrors and propaganda!

What would really be news is if your headlines read:

Full Tilt pays back long overdue players....

now that would be special.