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Full Tilt Deal May Be Near

French company will pay back players if OK'd by DOJ

Full Tilt Deal May Be Near

Confirming rumors that had been circulating for weeks, Laurent Tapie, CEO of French company Groupe Bernard Tapie (GBT), said last month that his company has struck a deal with representatives of the U.S. Department of Justice to repay ex-players of Full Tilt Poker, and to take over the shuttered poker site.

Speaking with the French poker magazine iGaming France, Tapie said confirmation of the deal to take over Full Tilt Poker should be made public soon. He said the deal will be final once Full Tilt Poker directors and shareholders agree to the acquisition by GBT.

Under the tentative agreement, the U.S. DOJ would handle refunds to U.S. players for deposits with Full Tilt Poker, while GBT would handle outstanding balances with players in other worldwide jurisdictions—who may elect to maintain their accounts with the site once it is relaunched.

There are still several issues to be cleared up before repayments can be made, such as identifying all players entitled to cash payments, and the issue of licensing. The site’s license was revoked by Alderney after the U.S. shut it down along with two others last April. GBT is reportedly negotiating with the French licensing authority ARJEL on a temporary license.

Tapie has said he intends to have Full Tilt Poker back up and running by January.