Investors Seek FTP UK And Irish Assets
An unknown group of investors and the representatives of Full Tilt Poker have been locked in exclusive discussions to sell the world’s second largest internet poker brand. At this point in time the mystery bidders are only interested in buying FTP’s UK and Irish companies and European-facing licenses, an insider told Cassaon-casino.
Only four days remain before the Alderney Gambling Control Commission (AGCC) chairs a public hearing to decide Full Tilt’s fate in London. The potential transaction had “nothing to do with stateside activities” and that the possible buyers remain in discussions to buy a segment of the besieged brand.
“The purchase includes the family of companies in the UK and Ireland (counting in marketing and technology company Pocket Kings in Dublin) and the Alderney licenses,” the source said. It’s still unclear whether the purchase will include FTP’s French license which was suspended also last month.
Attorneys from the London-based firm Jeffrey Green Russell are FTP’s clients in a potential sale, and during next week’s hearing that will last until Wednesday. “The attorneys handling the sale as well as the case are Jeffrey Green Russell, as it stands they are not permitted to divulge any information whatsoever,” the source stated. “The firm and various solicitors are representing Full Tilt at the hearing, assuming it goes ahead that is. It could still be challenged and a sale might still take place soon.”
A partner at Jeffrey Green Russell refused to corroborate or deny his and the firm’s association with FTP. Just after the U.S government’s indictment on the 15 of April, and its “alleged failure to satisfy AGCC that its dealings inside and outside the U.S were above board.
The regulator suspended Full Tilt’s licenses on June 29 notifying the site that it had to suspend all operations from the jurisdiction immediately. The body notified the press that the reason for next Tuesday’s hearing will be to “make public evidence from both AGCC and Full Tilt pertaining to the suspension of Full Tilt’s license and to arbitrate the findings transparently”.[addtoany]