The suspense over the Full Tilt Poker and Alderney Gaming Control Commission meeting finally ended last night with the AGCC permanently revoking FTP’s license. Their license was suspended on June 26th, and Full Tilt Poker had been eager to see what their fate would be. But as many people on the outside could have guessed, they received the worst possible fate after their license was permanently taken away.
In the end, the AGCC’s choice came down to the fact that Full Tilt Poker had attempted to dupe them with falsified statements of liquid assets. The Alderney Gaming Control Commission released a statement regarding this part of their decision by writing:
At a hearing held in London over six days, it emerged that FTP had fundamentally misled AGCC about their operational integrity by continuously reporting as liquid funds balances had been covertly seized by US authorities, or that were otherwise not actually available to the operator. Serious breaches of AGCC regulations include false reporting, unauthorized provision of credit, and failure to report material events.
So not only had Full Tilt Poker been secretive and misleading to poker players about their funds, but they also tried to pull one over on the AGCC. Of course, Full Tilt has a history of playing the blame game since they claimed it was all the US government’s fault over their inability to pay player cashouts. So it should be no surprise that their rebuttal over the lack of a license directly blamed the AGCC for ruining people’s chances of receiving deposits. Full Tilt Poker wrote:
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.
Sure there is a team of French investors who are, for some reason, interested in buying Full Tilt Poker. However, FTP said that they were close to selling the site months ago, which ultimately never materialized. In short, it looks like the AGCC was tired of hearing the same old Full Tilt lies.