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Full Tilt Poker reaches deal with investors

Department of Justice to repay Full Tilt Poker players in U.S. For the first time in months, players across the world have breathed a sigh of relief when thinking about the money they lost control of when Full Tilt Poker was shut down by the U.S. government. Any good news after so much disappointment comes as a welcome breath of fresh air, even though it may not provide an immediate solution to receiving the money that has been tied up during investigations – at least we’re not getting farther away from a resolution.

Groupe Bernard Tapie has entered into an agreement with both Full Tilt Poker and the Department of Justice in order to move forward with fixing the situation the online poker site has found itself in these past seven months. GBT, a French investor, will be taking on all Canadian debt owed by Full Tilt – estimated at around $10-15 million by lawyers familiar with the case. While it’s not certain exactly how much money will be returned to Canadian players, plans are being made, and this is something to celebrate.

Canadians are indeed luckier than their American counterparts when it comes to Full Tilt drama; Canadians will rely on the new investor for repayment of funds, while Americans will rely on the government in all its bureaucratic glory. Not to mention, online poker players in the U.S. may be risking exposing their own participation in what the government has obviously decided is an illegal activity – who would want to come forward and volunteer that information, any Americans are asking.

The only course left now is to wait and see how much money will be available to former Full Tilt Poker players, and when it will be handed out.

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