Posts Tagged ‘subject:poker’

DOJ and Tapie group come to agreement on FTP sale

by , Nov 1, 2011 | 12:51 pm

Subject:Poker is reporting that the US Department of Justice and Groupe Bernard Tapie have reached an agreement regarding the sale and fate of Full Tilt Poker. According to an email from Ray Bitar, the indicted CEO says that upon a payment by the Tapie group and a commitment to assume responsibility to repay non-US players, the DOJ will reimburse US players and settle litigation with FTP-associated companies. The Tapie group will then work on becoming licensed once again by a gaming authority and eventually resume business.

Any deal still needs to be approved by 2/3 of Full Tilt ownership, expected to be a formality.

More perspective can be found at Wicked Chops Poker.