Well, it’s a first step.
Now as the great Winston Wolf would say, “let’s not start sucking…” you know the rest.
According to the release, the agreement includes repaying players worldwide. However, there are still conditions that need to be met, including negotiations (beginning immediately) and approval by the U.S. Department of Justice.
And that’s where things could get tricky. According to our sources and as we’ve previously reported, Tilt has had at least one other deal that involved some level of DoJ discussions that did not come to fruition.
But you have to start somewhere, and this is a good start. If the deal is finalized and pushed through, it’ll be interesting to see:
- Does the company rebrand itself completely, or try to repair the image of the existing brand by gutting management and purging shareholders off the roster?
- On that note–do they keep anyone on the roster? Clearly the Red Pros are gone. And the U.S. Americans. Would Gus and Patrik remain? How about Ivey?
- With that in mind, wouldn’t they have to rebrand? If they clear out the pros, it’s not like you’re really going to “learn, chat, and play with the pros” anymore.
- Will repayments to players happen immediately? One would think that’s an absolute requirement for Tilt to get their license back and begin taking deposits again.
- Will the DoJ get a hefty Dikshit-esque settlement in one chunk, or give the company some breathing room with a payment plan?
Whether or not the deal does go through, and how the company deals with the above questions, well, you know.
Read the full PokerStrategy exclusive here.
UPDATE: Laurent Tapie gives interview, also says there’s a long way to go. Interestingly, said he plans to keep the Full Tilt brand and relaunch by January 2012. Also sounds like he wants to do a payment plan with the DoJ, as we alluded to earlier in this post. Read here.