French Investment Group Must Clear Legal Hurdles Before Acquiring Full Tilt

Published Saturday, October 01, 2011 - Online-Casinos.com
French Investment Group Must Clear Legal Hurdles Before Acquiring Full Tilt

Full Tilt Poker may one day rise from the ashes but it’s unlikely that that will happen any time soon. Surprising news has emerged from various sources that the Full Tilt Poker entity has been purchased lock stock and barrel with conditions by the French investment organization Groupe Bernard Tapie.

The conditions that the firm must comply with in order to complete the transaction seem at this juncture almost insurmountable. They include the resolution of outstanding legal issues that Full Tilt Poker has encountered with the USA Department of Justice.

PokerStrategy.com broke the story in which it was indicated that Groupe Bernard Tapie had signed “an exclusive agreement” with the current Full Tilt board of directors to acquire the company and its assets.

This story seems a little unrealistic considering the actions that the DoJ in America have presented they may have to wait a long time and have very deep pockets to resolve the alleged illegal activities.

iGaming France published a recent interview with Laurent Tapie the Managing  Director of Groupe Bernard Tapie in which he said that he, “wouldn’t have undertaken such a project if he didn’t believe in its potential.” Tapie pointed to the technology of the company (i.e., its software) and its formerly pristine reputation as reasons to purchase Full Tilt. “I believe we have the tools necessary to once again make the site one of the leaders in the industry,”

The possibility of re-establishing Full Tilt online and getting the former members their money back are just a few of the roadblocks ahead for the poker room. The other huge hurdle will be getting a license to operate in a regulated jurisdiction with the tainted past that Laurent Tapie father Bernard has created. In 1995, Bernard was sentenced to two years in prison for fixing a soccer match that the team he owned at the time, Olympique de Marseille, had involvement in.

 

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