Full Tilt Investors Waiting on AGCC Decision: Ifrah


Now going on 10 days since the resumption of Full Tilt Poker’s license hearing with the Alderney Gambling Control Commission, poker players are still anxiously awaiting a statement regarding the outcome.

Or, for that matter, even a statement indicating that the hearing has ended.

Originally expected to be wrapped up within 72 hours, the hearing is rumored to have extended over the full course of last week in London due to an impending deal for the sale of Full Tilt to a French investment group.

Information surrounding the hearing has been scarce, but Full Tilt Attorney Jeff Ifrah spoke with pokerstrategy.com earlier this week and said the investment deal is very real but still contingent on the AGCC reinstating Full Tilt’s operating license.

Said Ifrah:

“The investors are totally committed to doing this – we’ve met with them and seen the funds.  

“Their primary concern right now is the AGCC’s decision on Full Tilt’s license.

“The investor’s position is that if Alderney revokes the license, they won’t go through with the deal because it makes things too difficult.”

As of Monday, Ifrah said the investors are in Alderney meeting with the AGCC to adress concerns and finalize an agreement.

Ifrah also said a settlement with the US Department of Justice is critical for negotiations to go forward and to that end the investment group has retained counsel and set up a meeting with the DOJ.

“They’ve hired a prominent and respected lawyer in the gaming industry,” Ifrah said, “and are setting up a meeting with the DoJ to try and work out the issues Full Tilt has in the US.”

Dates for this expected meeting with the DOJ have been bandied around on the forums and "by Oct. 3" has surfaced in the threads atrributed to an email from Irfah.

Ifrah has also said the letter of intent signed by the investment group is due to expire on Sept. 30.

According to an article on the French media site mediapart.fr, the investment group is rumored to include Laurent Tapie, son of noted French businessman, politician and actor Bernard Tapie.

No update has been posted on the Alderney Gambling Control Commission website.

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