We are able to confirm that in fact Full Tilt Poker is in advanced to late stage negotiates with a group of investors from France. The group of investors was put together by Laurent Tapie who is well known within the online gaming sector in France. Jeff Ifrah is the lawyer representing Full Tilt Poker on various fronts sat down with SubjectPoker and confirmed the existence of a signed letter of intent. The letter of intent means that a deal is close as this group of investors have been in contact with Full Tilt Poker since August 24 just a few days after the exclusive negotiating agreement expired with the European Investors.
It looks like the following items are in place:
- Letter of intent & executed term sheet
- Alderney Gaming Control Commission has already talked to investment group
- US DOJ is negotiating a settlement with the group
- Agreement in place will pay back all player balances
It has widely been speculated that the AGCC was initially ready to fully suspend Full Tilt Poker’s licence but the existence of this new investor have put that on hold. The AGCC is currently giving the investors the ability to secure a settlement with the US DOJ at which point the AGCC will reinstate Full Tilt Poker’s licence and the french investors will take over Full Tilt Poker.