Reports are coming in today that an agreement was signed on Thursday June 30, 2011 that Full Tilt Poker is being sold to a group of European Investors. Full Tilt Poker Attorneys have said the agreement will give the investors (Possibly Party Poker or 888?) will give Full Tilt enough money to pay back player funds. The catch is that these European investors will take a majority stake in Full Tilt Poker. Technically they will be a majority shareholder of Pocket Kings, which is the Full Tilt Poker parent company.
Pleas note – This is not a Done Deal yet! The agreement was signed June 30, for the deal to take place. This only real source of this at the moment is an LA Times article. All other sources (like Calvin Ayre) seem to just be repeating the LA Times article.
The way I see it, this is a great thing for the US players with money stuck on Full Tilt. This is a way better scenario than Full Tilt just going out of business or declaring bankruptcy. what does this mean for Full Tilts future as an online poker room? Obviously there is some value in the Full Tilt brand (although it’s dropping everyday they don’t communicate with players), their great software has value and they also have rush poker is worth some cash.
Story developing, We will be adding information as soon as it is out! Check out the wombats at QuadJacks for the latest poker news podcast.