FullTiltPoker.com signs acquisition agreement

FullTiltPoker.com had its licences from the Alderney Gambling Control Commission revoked last week after examinations conducted by the jurisdiction revealed that the domain had ‘fundamentally misled’ investigators regarding its ‘operational integrity’.

In addition, FullTiltPoker.com directors Howard Lederer, Ray Bitar, Rafe Furst and Chris Ferguson are under investigation in the United States concerning allegations of fraud and have had some of their personal assets seized while the site itself is the subject of a class-action lawsuit brought by disgruntled Canadian players.

Tapie is the son of controversial businessman and former politician Bernard Tapie and serves as Chief Executive Officer for Groupe Bernard Tapie, which will now acquire FullTiltPoker.com and all of its associated assets. “This agreement, which includes the repayment of FullTiltPoker.com’s worldwide players in full, is subject to several conditions,” read a statement from FullTiltPoker.com.

“The first of which is a favourable resolution with the United States Department of Justice. Discussions with the United States Department of Justice will begin immediately.”

FullTiltPoker.com described Groupe Bernard Tapie as having ‘over 30 years of experience in the salvation of financially distressed businesses with over 40 companies acquired and managed to profitability’ including German sports equipment giant Adidas.

In an exclusive interview with iGaming France, Tapie said that he aimed to keep the Full Tilt Poker brand and that he hoped the site would be open for business by January 2012.