Posts Tagged ‘Jeff Ifrah’

Full Tilt Poker seeking US Online Poker License

Monday, November 21st, 2011

Proving that anything is possible, Full Tilt Poker reportedly has a very good chance to get a US online poker license if the game is ever legalized and regulated in America.

Full Tilt’s lawyer Jeff Ifrah came out with this news after his dealings with Groupe Bernard Tapie and the US Department of Justice. He said that, in addition to the $80 million deal between GBT and the US DOJ, there is also a very good chance for Full Tilt Poker to be accepted for a US online poker license if America does pass favorable legislation within the next year or so.

Right now, Groupe Bernard Tapie and Full Tilt Poker are in the process of finalizing the aforementioned $80 million deal. As part of the deal, GBT will pay back the $300 million-plus that non-US online poker players are owed from Full Tilt, while the US DOJ will pay the estimated $160 million that Americans have wrapped up in the site.

For the time being, there’s no word on what will become of the current Full Tilt board members such as Chris Ferguson, Ray Bitar and Howard Lederer. This trio, along with other higher-ups at FTP, are blamed for players not being able to cash out money after the US DOJ came down on Full Tilt; they took too money from the player deposits for themselves, and didn’t leave nearly enough to cover cashouts.

This being said, it’s interesting that Full Tilt Poker would still be considered for licensing within the US. After all, many online poker players were inconvenienced by this dilemma because some of them had thousands or even millions stuck on FTP. Hopefully though, the Groupe Bernard Tapie deal can bring an end to this whole mess.