eff Ifrah, a lawyer representing Full Tilt, is hopeful that the terms of the investment, can clear the way for a potential settlement with the United States Department of Justice (DoJ).
If completed, the proposed deal is expected to pave the way for the repayment of American players, and Full Tilt’s lawyers are hopeful of this also bringing about the withdrawal of the class action suit brought against the company last week.
Ifrah, one of several attorneys representing the company - whose founders were indicted by the DoJ in April - told eGaming Review: “My hope is as the company formalises a deal with the European investors the terms include paying back the players, and we’d like to think this will help take care of the class action suit and any copycat suits on the table.”
“Part of the deal with [the investors] will hopefully be a settlement of the DoJ case - [they have] met with Alderney and France already and will be meeting with the DoJ,” he added.
He would not divulge the identity of the investors, but confirmed that they are from the financial sector and not, as has been speculated elsewhere, another egaming company. “They are not one of our competitors,” he explained, “and to my knowledge it’s their first step into the egaming sector.”
Ifrah told eGaming Review that he is set to meet with a senior member of the investment group, who he confirms “Has been on track with regards to his timetable so far.”
Meanwhile, he also moved to quash speculation on various internet sites that Ray Bitar had been voted out as the company’s chief executive.
“We can completely deny the reports that Ray Bitar is no longer CEO. In fact that [rumour] really ruined his day yesterday. It doesn’t help anyone for sites to be reporting news that’s not true,” he said.
Full Tilt is also in continued discussions with the Alderney Gambling Control Commission, although the island’s director of ecommerce development has dismissed reports that the operator’s licence - suspended pending a hearing later this month - could be restored as soon as tomorrow.
Robin le Prevost said: “I can confirm that [that speculation] is tosh. Obviously people are interested in seeing if they can buy Full Tilt and that is probably true.”