Home / Poker News June 2011 / Is Full Tilt Poker Really Down and Out?
Is Full Tilt Poker Really Down and Out?
Posted by: James Carter. - Thu, 2011-06-30 03:16
After yesterday’s suspension of its Alderney license, Full Tilt Poker has pretty much gone offline as far as its regular customer-serving operations are concerned. While site officials have probably been pulling every string since to get the operation back online, thus far, not much has been accomplished. With the AGCC hearing set for July 26, the World’s second biggest online poker operation is looking at a best case scenario of a month’s inactivity.
The question on every player’s mind (especially on those guys’ who have funds blocked at
Full Tilt Poker) is: what happens now? Does the site just fade into the sunset taking player monies with it? Is there some sort of a silver bullet that will come to the rescue to make everything all right again?
There are all sorts of rumors floating around out there, some of them more optimistic than the others, none of them verifiable of course.
According to some sources, there may be a silver bullet in the works and its name is Jack Binion. Binion is apparently preparing to buy up Raymond Bitar’s shares in the operation, thus turning the site into an American-owned one, taken over by an entity which stands a real chance to obtain a US license if and when online poker is legalized.
Bitar’s indictments seem to have been at the root of the AGCC’s moves, therefore it is theoretically imaginable that once he’s out of the picture, FTP would regain its Alderney license, which would allow it to resume operations outside the US. Of course, Binion’s main goal would be to bring the site back into the US market.
Those same sources which have come up with the above theory also seem to know that not only will
online poker be legalized in the US soon, the bill will be amended to allow players to make credit card deposits too.
If all this was indeed true, the industry would pretty much be saved in its current form. Whether or not Full Tilt is too big to fail as some consider it, remains to be seen though…
