Tournament Poker Edge | Learn Poker Strategy | Tournament Poker Training from the Pros - Topic: Full Tilt Gaming License Hearing

lespaulgman on Full Tilt Gaming License Hearing

Tue, 26 Jul 2011 15:51:34 -0400

My best assessment at this point is it is bad news. The company didn't fight (or at least didn't publically) to have its license reinstated, but rather took the tact of going behind closed doors. At this point all they really accomplished was making the situation substantially worse. I don't see as an investor why I would put any money here and try to ressurect this company. Reputation is everything and FTP's is fundamentally shot. I think that they are screwed and will end up closing the doors and players around the world will end up hosed on this one. Overall it really makes the case for better regulation as one of the two main iPoker sites was running an incredibly risky plan and it blew up in their face. Players need protection from this, not just in the US but everywhere.

dasfix on Full Tilt Gaming License Hearing

Tue, 26 Jul 2011 15:45:35 -0400

At this point the only good news would be if they said they're refunding US players immediately, other than that it's hard to really put a positive spin on waiting another 2 months...

What a mess.

Killingbird on Full Tilt Gaming License Hearing

Tue, 26 Jul 2011 15:40:24 -0400

thanks again. Can't decide if that is good or bad news...

lespaulgman on Full Tilt Gaming License Hearing

Tue, 26 Jul 2011 13:59:22 -0400

Okay, looks like the Commission suspended the hearing until a date no later than September 15th to allow FTP to pursue "commercial interests". Based on analysis I have read this is to get an investor to pay US players and supply operating capital for the company. Important note is there appears to have been no resolution to the licensing issue, which could complicate the sale of the company. Will keep posted on anything further

-LPG

Killingbird on Full Tilt Gaming License Hearing

Tue, 26 Jul 2011 12:56:14 -0400

thanks Gman! Appreciate you keeping us all informed. So much info out there, it's great to get the cliff note version!

lespaulgman on Full Tilt Gaming License Hearing

Tue, 26 Jul 2011 12:53:36 -0400

I am sure a lot of TPE players are curious about the hearing and goings on at the Full Tilt hearing in London today so I thought I would post what I have read so far and link to the best information sources so folks can follow on their own. So here is what has been posted so far. Early in the hearing there was a lot of wrangling between Full Tilts Legal team and the Aldernney Commission about whether the hearing should be private or public, with Full Tilt citing sensative commercial topics would need to be discussed in the course of the hearing which stand to damage the company if done in public. They were initially denied their request, but after stonewalling for a significant period of time they finally won their appeal for the hearing to be held in private. The only relevant information to come out of the public section of the hearing was that Full Tilt owes the AGCC 250,000 GBP for renewal of its license which it did not pay in the suspended interrum, however they assured the commission it could be paid within 7 days. Other than that nothing has been released to the public or the media on site. I would suggest following pokernews.com on the net and @kevmath, @pokernews, @_tizzle on Twitter and Quadjacks.com is broadcasting live with a host of great guests (including FTP pro's and gaming insiders) to talk about the situation. Hope this helps everyone stay informed.

-- LPG