Full Tilt Poker receives letter of intent from investor

“There are terms within the letter of intent which are binding and terms which are not, and they are able to walk away, but no other investor has invested as significant an amount of resources and time as this group,” Ifrah said.

Ifrah also confirmed that the repayment of player funds remains crucial to any deal, while the investor hopes to settle Department of Justice fines and - by extension - render further legal action against the company and its subsidiaries redundant.

He added that, while Tuesday’s press statement from Preet Bharara resulted in a loss of interest from some previously interested suitors, there remain three parties involved in discussions to invest in Full Tilt Poker.

The statement, in which Bharara labelled the operator “A global Ponzi scheme”, followed an amendment to the civil suit against FTP to add board members Chris Ferguson, Howard Lederer and Rafe Furst to the list of defendants.

According to Full Tilt Poker’s own press statement at the end of August, at least six parties had visited the company’s offices in Dublin to inspect their operations.

Regulators from the Alderney Gambling Control Commission (AGCC) have been engaged in private discussions with FTP lawyers in London this week with regards to the status of the company’s operating licence, but are yet to reach a verdict.

Reports in the Wall Street Journal suggest FTP has sought a 30-day extension to the time allotted by the AGCC, and eGaming Review understands from multiple sources that the evidence has been heard, although the AGCC is yet to make a public statement on the matter.