Home / Poker News October 2011 / Full Tilt Poker to be Acquired by Bernard Tapie Group
Full Tilt Poker to be Acquired by Bernard Tapie Group
Posted by: Randy Williams - Sat, 2011-10-01 10:37
Finally: a glimmer of hope for the thousands of players and affiliates who have significant funds stuck at Full Tilt Poker. It appears that only a day after the Alderney Gambling Control Commission revoked its license (leaving the possibility open for re-activation in case the company is taken over by a new owner), Full Tilt Poker has posted a press release about an agreement that it has signed with the Bernard Tapie Group of France.
The deal is basically about the Tapie Group taking over
Full Tilt Poker and fully repaying its players regardless of their geographic location, if certain conditions are met. One of those conditions is apparently a favorable resolution of the ongoing litigation between the company and the US DoJ. According to an interview given by Laurent Tapie, managing director of the Bernard Tapie Group, discussions with the DoJ regarding the Full Tilt Poker issue will begin immediately. Given that the top priority of the DoJ is to have player funds repaid as soon as possible, those discussions may indeed yield a positive result rather soon.
Bernard Tapie is a French businessman, whose name is well known in business circles for the rescuing of many a high profile yet struggling corporation. Tapie was the one who managed to turn Adidas into a profitable company again. He owned a cycling team which won the Tour De France twice and a football club which won several French Championships. All in all, the Bernard Tapie Group has thus far managed to nurse no fewer than 40 fledgling companies back to profitability.
The Group’s representatives believe that the Full Tilt brand is still viable. The software behind the operation is hands-down one of the best in the industry and the player base is still enormous.
The Bernard Tapie Group firmly believes that Full Tilt Poker can once again be the industry-leading company that it once was.
