Full Tilt Poker reportedly sold to PokerStars
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On April 15th, 2011, Black Friday struck and sent Full Tilt Poker into a tailspin that would eventually see them go down with over $400 million in player deposits. To this day, the now-defunct Full Tilt has yet to repay their players, which has made their former owners - Ray Bitar and Chris Ferguson - public enemies.
However, people may find it in their hearts to someday forgive the two perpetrators if a recent news story from Gambling911 is true. This site is reporting that the US Attorney's Office in Southern New York has finally allowed PokerStars to purchase FTP. If you're wondering about the limited details of this supposed deal, you can see everything below.
What does this Deal Mean?
At this point, details are scarce on the stipulations of the Full-Tilt-to-PokerStars deal. However, US Attorney Preet Bharara has always been adamant that former FTP players should be repaid as part of any deal. This being said, the poker world would be due for a large infusion of cash from PokerStars.
Aside from this, Stars would get FTP's software and their old player base (whatever this is worth). One of the pre-deal demands PokerStars made of the US Department of Justice was that they be able to operate in the US legally. But there's no word on whether this was actually included in the presumed deal.
How did Gambling911 get this Info?
Currently, no other poker news outlets are confirming the Full Tilt deal, which begs the question of how Gambling911 got this information. According to their website, they filed for a motion to intervene in 2009 during a Full Tilt Poker probe; this motion was granted and Gambling911 was then given the "right to access information" with regard to certain Full Tilt dealings.
When is the Official Announcement coming?
Once again, there are few details on the reported Full Tilt deal, so we don't know when exactly PokerStars and/or the US Attorney's Office will officially make an announcement about the deal. But assuming that it is in fact completed, we can probably expect to hear something within the next few days.
