ARJEL suspends Full Tilt licence in France

The ARJEL panel said a suspension, the length of which has yet to be determined, was necessary due to the dot.fr site’s inaccessibility following the original multiple licence suspension by the Alderney Gambling Control Commission last week and the company’s need to seek additional financial guarantees to continue operating.

ARJEL said it was, and would, remain in contact with Full Tilt to ensure refinancing conditions are met in the interest and protection of players in France.

Just days after Black Friday on 15 April the French regulator gave Rekop notice to generate new certificates of the bank managing its French business proving it had enough funds to pay players and continue operating, however it has so far been unable to do so in France as well as globally.

Full Tilt is facing an increasingly uncertain future with all its current operational licences now suspended, world-wide accounts frozen and two of its founders named in the original Black Friday indictments. It has also yet to pay back any of its US customers.

James Hollins, analyst at Evolution Securities, said that with zero cash income following Full Tilt's complete licensing base suspension, the situation could become "terminal" for the business if its cashflow issues are not resolved soon.

Late last week it emerged Full Tilt could reportedly be on the verge of selling a majority stake in parent company Pocket Kings to unnamed European investors, however no further news has since materialised with various sources connected to the company unable to comment.