Full Tilt Poker Press Release - 29/09

Sept. 29, 2011, Posted by Pokerfarm

AGCC DEALS A BLOW TO FULL TILT POKER PLAYERS AS ‘INVESTOR CLOSE TO A DEAL’ TESTIMONY IS DISREGARDED
 
On September 19, 2011, the Alderney Gambling Control Commission reconvened the private hearing originally held on July 26, 2011, regarding its suspension of Full Tilt Poker’s operating licenses.

During the hearing, Full Tilt Poker offered the testimony of an investor interested in acquiring the company. The interested investor testified before the Commission as to its advanced status of negotiations with the company and the terms and conditions of a potential purchase. Full Tilt Poker requested a 30-day adjournment of the hearing to allow for transition of the company to the new investment team.

Today, the Commission announced its decision to revoke three of the four Full Tilt Poker operating licenses, despite the weight of evidence presented at the hearing by Full Tilt Poker of investor interest in acquiring the company. The Commission’s decision to revoke Full Tilt Poker’s operating licenses makes it more difficult to execute the sale of the company and hence repay its players.

Throughout the last few months, Full Tilt Poker has been totally committed to ensuring repayment of its players in full — a commitment that it has expressed repeatedly to the Commission and the company believed that it was engaged in a collaborative effort with the Commission to repay its players. 

Notwithstanding the potential damage done by the Commission and its disregard for our players, Full Tilt Poker remains committed to repaying its players in full and continues in active negotiations. A further statement will follow shortly."