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Fulltilt license revoked - what now ??  0   
AGCC has revoked the license of fulltilt.

"AGCC Commissioners, sitting as a tribunal, have today revoked the licences of Vantage Limited, Filco Limited and Oxalic Limited, trading as Full Tilt Poker (FTP), with immediate effect. This follows the earlier suspension of the licences on 29th June 2011.

"At a hearing held in London over six days, it emerged that FTP had fundamentally misled AGCC about their operational integrity by continuously reporting as liquid funds balances that had been covertly seized or restrained by US authorities, or that were otherwise not actually available to the operator.

"Serious breaches of AGCC regulations include false reporting, unauthorised provision of credit, and failure to report material events.

"At the commencement of these proceedings on 26th July AGCC made clear its preference to hold the hearing in public, to the benefit of players and media alike.

"However, the tribunal was persuaded that the hearing should be held in camera on the basis of claims by FTP that this would maximise the chance of a commercial rescue of the business for the benefit of players. For this reason an adjournment of 54 days was allowed.

"It is important to note that the revocation of FTP’s licences does not, as has been suggested, prevent a reactivation of the business under new ownership and management.

"Unresolved claims by players against FTP become a matter for the police and civil authorities. Now that FTP’s licences have been revoked, AGCC no longer has jurisdiction over these companies.

"The licence of Orinic Limited, a recently added geographic sub-division of the FTP poker room, remains suspended."
copy/pasted from another site

dont see any investor putting their money in now, they might buy their software though.
will players get their money ?
or will fulltilt file for bankruptcy ??

     
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AGCC are assholes and could not wait until Monday, they knew a deal was in the pipeline, I'm convinced they don't want FTP back, or its $ beneficial to revoke.
What does it mean, well the French investors would have known its possible, I guess they now offer less, with luck it still gets sold, but then have to re-apply for a license, it becomes a ball ache.

     
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like i mentioned in another thread it would happen.
was to expect, or?
if you was a investor, wouldnt you try by any means just to buy the software? and not the whole brand which include repayments to players in a total of xxx millions? i would...new reputation with a good marketing and the players will be back.
hope im completly wrong tho..



     
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definitely the only assets full tilt have are: 1)the software- absolutely the biggest asset Dollar ; 2) the brand itself- that is name Full Tilt Poker- even though this situation done serious harm to the brand, but the amount invested in the brand is to big to just expect this situation will kill the brand Aww crap! obviously brand has some value- and if someone gets the chance to buy the brand without the obligation to buy back money to players they will jump in for sure Dollar
so the question is how quickly full tilt comes back, who will the owners be and how much money will be given back to players Confused

     
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So its time to kiss our money goodbye i guess.
Coming back right now and repaying the players its just a dream.
No license and you also have to repay the players back.
Who's gonna buy them now?

     
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Now only a financial agreement could mean money refund to players, at least for the non US players that had money on full tilt poker...

One way or another the situation is pretty bad, now we could only have hope in a resolution for this problem Smile

I hope mobsters here didn't had too much money on their accounts...

     
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What now? Now French investors have to negotiate with DOJ, without a agreement with DOJ there is like 0.0000000000001% of chance for new license for FTP. At least from AGCC, but after they revoked FTP's license I don't think anyone will give 'em new one. So it's kinda quite simple - without a deal with DOJ they have no chance to be back online. With the deal they have like 10, maybe 20%. It will be hard, but still possible.

     
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