Full Tilt Poker Sold to French Investors

absoluthamm

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Full Tilt Poker Sold

full tilt poker has been sold to French investors according to several sources. The buyers are the Bernard Tapie Group who formerly owned Adidas, who promise to pay all players in full.

Things are looking a little better for players. With Full Tilt being sold to new owners, they will want to try to rectify their reputation and paying out must be their first priority.
On Friday, Full Tilt Poker announced on PokerStrategy.com that an acquisition agreement was signed with the Bernard Tapie Group. This comes just one day after the Alderney Gambling Control Commission revoked Full Tilt Poker's license.
The announcement was made by Laurent Tapie, managing director of the Bernard Tapie Group.
Laurent Tapie is the son of Bernard Tapie, a French businessman and politician. Bernard Tapie is credited with rebuilding a number of bankrupt companies and making them profitable — his most famous is Adidas, which he owned from 1990 to 1993. He also owned a cycling team that won the Tour de France twice and a soccer club that won the French Championship five times in a row, as well as the Champions League in 1993. Bernard Tapie's record isn't only littered with wins however, in 1993, he was accused of fixing a match between his soccer club and another, for which he served a seven-month prison sentence. Tapie was also convicted of tax fraud and was sued by his banker for repayment of a $240 million loan.
Reprinted below is the press release in full:
Full Tilt Poker and Groupe Bernard Tapie Sign Acquisition Agreement
Dublin, Ireland (September 30, 2011) Laurent Tapie, Managing Director of Groupe Bernard Tapie announced today that the group has signed an exclusive agreement with the Board of Directors of Full Tilt Poker to acquire the company and all of its associated assets.
This agreement, which includes the repayment of Full Tilt Poker’s world-wide players in full, is subject to several conditions; the first of which is a favorable resolution with the United States Department of Justice. Discussions with the United States Department of Justice will begin immediately.
Groupe Bernard Tapie has over 30 years of experience in the salvation of financially distressed businesses, with over 40 companies acquired and managed to profitability, the most well-known being the sport equipment giant, Adidas.


http://www.pokernews.com/news/2011/09/full-tilt-poker-acquisition-agreement-bernard-tapie-11134.htm
 
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spiderman637

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Re: Full Tilt Poker Sold

This is getting interesting...Always loved FTP !!!
 
Debi

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Ohhh - this sounds like great news for all of us! I finally have hope that I will see my $2k again - and everyone else will get their money back!
 
Maid Marian

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Re: Full Tilt Poker Sold

That sounds wonderful! It would be nice to receive my money back!:)
 
Charade You Are

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Encouraging--Fingers crossed, not counting my money yet. Don't they still have to acquire a license?

Bernard Tapie's record isn't only littered with wins however, in 1993, he was accused of fixing a match between his soccer club and another, for which he served a seven-month prison sentence. Tapie was also convicted of tax fraud and was sued by his banker for repayment of a $240 million loan.
 
dmorris68

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Encouraging--Fingers crossed, not counting my money yet. Don't they still have to acquire a license?
Yeah but I doubt it will difficult if they comply with the license requirements. AGCC said in their revocation announcement that the revocation did not mean they couldn't be relicensed under new ownership. The Tapie who had the legal issues you quoted apparently doesn't the run company now, his son does.
 
Charade You Are

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Yeah but I doubt it will difficult if they comply with the license requirements. AGCC said in their revocation announcement that the revocation did not mean they couldn't be relicensed under new ownership. The Tapie who had the legal issues you quoted apparently doesn't the run company now, his son does.

:eek: Thanks for the correction. I missed that.
 
blankoblanco

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this would be an incredible turn of events...
 
joker131

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finaly we may get some cash back, but dont hold your breath
 
dj11

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Glimmer of hope is all I see. The guy has a checkered past, just dirty enough to be suspect. :(

I can hear the buzz in the world so loud it drowns out the noise of the nearby freeway........... ;)
 
WVHillbilly

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Hoping for the best here but still don't expect to ever see my cash again.
 
Reigle9

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I think it's pretty encouraging, but it's going to take some time.
 
beardyian

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This agreement, which includes the repayment of Full Tilt Poker’s world-wide players in full, is subject to several conditions;

Dont you just love legal speak
 
TAC91

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This is awesome news. I might just get my 31 cents back now!!! lmao At least they are getting something done right, now. Tilt is still my favorite poker site. Crooks or not.
 
kidkvno1

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Saw this on Facebook :) 2nd link on the page. This is some much needed news.
 
Jodieblonde

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This is good news. Will be watching for payment and looking forward to playing again. Hope that they keep the same format as I enjoyed playing at Full Tilt.
 
Kenzie 96

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Great news, have been hopin against hope some french crook would come along & make this all better.
 
Roller

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Great news

TILT TILT TILT TILT

Could it be that one day we actually receive our Money.

I will believe it when Cash in hand ....
 
F4STFORW4RD

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I'm not overly bothered about getting my money back, but I am very much looking forward to Full Tilt being back online again... :D
 
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