US Poker Players May Get Refunds With Group Set To Buy Full Tilt
US online poker players have had to suffer on several different accounts since the US government issued indictments against Full Tilt, PokerStars, and Absolute Poker. The three sites were shut down by US officials, and then given their domain names back in order to pay US customers.
PokerStars started paying US players shortly after they gained the rights back to their domain. Full Tilt, however, has not done the same. Full Tilt struggled financially after losing tens of thousands US players, and the result has been non-payment to the players. According to several sources, help may soon be on the way.
A European investment group has agreed to purchase Tilt Poker with the hope of saving the sinking online poker site. The investors would pay enough for Full Tilt’s parent company, Pocket Kings, to gain majority control. The group would also infuse enough cash into the company to ensure that US players were paid.
One of the key professional players that has an interest in the site is Phil Ivey. Considered to be the best player in the world by most poker enthusiasts, Ivey has vowed to not play any events at the World Series of Poker to show support for the players that have not received refunds. Ivey has as well begun a lawsuit against Full Tilt, a company that he had endorsed for several years.
If Ivey played in the WSOP, he would have had to wear the Full Tilt logo, under an endorsement agreement. The poker pro, through his attorney, announced that he would likely drop his lawsuit if the deal with the European investors was completed.
On Wednesday, Full Tilt’s gaming license was suspended by British authorities. That essentially ended any chance the company had of gaining back customers. It is unknown whether the authorities will give the license back under the new ownership group.
PokerStars, another of the companies named in the US indictment, appears to be the biggest beneficiary of the Full Tilt debacle. According to H2 Gambling Capital, PokerStars has received almost sixty percent of the customers that were forced to move from the Full Tilt site on Thursday. PokerStars’ average player participation jumped by over ten percent after the Full Tilt shutdown.0