Ray Bitar and Full Tilt Poker face some tough decisions this week.
With the Alderney hearings ready to begin (listen as it happens here), we’re looking at a big 24 hour period coming up for Full Tilt Poker. Let’s review some of the latest rumors.
EGR Magazine last week reported from an “inside source” that a mysterious group of European investors were only looking to acquire the “good assets” of Full Tilt (read the article in full here). This has caused some forum and Twitter speculation that Tilt would get to keep operating their business (even if under a new name) and potentially stiff U.S. players.
Keep in mind, EGR has erroneously reported on other major Full Tilt news (which to be fair, we all have–although more on that later), so take that info with a grain of salt. While any potential investor would probably like to only purchase the good assets, don’t count on that happening for two major reasons.
First, if Full Tilt hoses U.S. players, any reputable gaming authority, like the Alderney Gambling Control Commission (AGCC), or any disreputable one, like the KGC, would not reinstate Tilt’s license. It would completely submarine the reputation of the Commission. There would be too much pressure from the other companies licensed by the Commission against such actions, as it would call into question the legitimacy of their licenses.
Problem number two is the DoJ will still need to bless whatever deal Tilt does. If Tilt management is stubborn/arrogant enough to believe they can just dump the good assets and stiff U.S. players and the DoJ out of cash (which, actually and sadly, they might be) then the net of indictments would absolutely widen. Or better put, the Professor and Jesus better look good in orange.
As with everything Full Tilt related, the situation is fluid, and well, you know.