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Full Tilt agree European sale

1/7/2011
Full Tilt Poker are to be bought out by a group of European investors, according to sources in America.

The LA Times are reporting that the troubled online poker room – whose American operations were shut down in April by US federal authorities – signed an agreement with the group on Thursday. It is understood the deal would give the investors a majority stake in Full Tilt’s Irish parent company Pocket Kings, as well as providing funds for the repayment of Full Tilt customers whose accounts were frozen following the April indictment. Money will also be provided for the settling of a civil lawsuit brought against Full Tilt by the U.S. attorney's office.

Meanwhile, an attorney representing Phil Ivey, the poker professional who sued Full Tilt following their failure to repay player funds, has said that his client intends to withdraw the lawsuit as a result of this latest development.

Full Tilt’s European operations were shut down yesterday following the withdrawal of their Alderney licence by the Alderney Gambling Control Commission.
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