Jack Binion Considers Investment in Full Tilt Poker

Long time Las Vegas staple Jack Binion reportedly met with Full Tilt Poker officials in Ireland last week along side poker pro Phil Ivey in order to discuss a potential investment opportunity. 

Full Tilt Poker has been under intense pressure to pay back US customers since April 15 when US authorities seized the company’s funds and forced their exit from the US market.  FTP and two other companies, PokerStars and UB.com, have been charged with bank fraud and money laundering.

Binion, the original founder of the World Series of Poker, has since founded the World Poker Open and assumed the role of chairman for Wynn International, where he was in charge of Wynn Macau.

Subject Poker reported on the Binion meeting late Monday and has previously reported that Phil Ivey would be appearing as well.  They have since noted that Ivey’s appearance was crucial to Binion being there.

While Full Tilt Poker has issued statements that there are “pending deals with several parties that would put money back in players’ pockets, many industry experts have since told Gambling911.com that they believe FTP is “far from broke” and question whether actual funds were froze.  Some individuals with long time experience in the online gambling sector have suggested Full Tilt Poker would have known some time ago what accounts would be subject to seizure since they were well aware of which processors were under investigation. 

Any attempt to send monies to US players would likely result in federal authorities being able to trace back to the present bank accounts.

- Chris Costigan, Gambling911.com Publisher