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A report filed by Subject Poker quotes sources as saying that talks between perspective European investors and Full Tilt Poker Management will require an “exclusive bargaining agreement”. Parties involved tell Subject Poker such an agreement has been entered into. Investors will essentially have three weeks to conduct due diligence.
The agreement, reached on June 30th, requires Full Tilt to stop negotiations with other prospective investors for at least three weeks while the primary suitor conducts due diligence investigations and negotiates with the poker site’s executives.
Some hopes in the online poker community have been dashed after the Los Angeles Times initially broke the story of talks between a group of investors and Full Tilt Poker, suggesting a deal had been finalized.
Full Tilt Poker is yet to pay back US customers after an indictment was handed down against the company on April 15. Its licensing arm in Alderney pulled the plug on July 1, thus placing customers around the world who might have otherwise viewed the FTP situation as a “US player problem”, in a similar predicament.
- Chris Costigan, Gambling911.com Publisher
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