Has Troubled Full Tilt Poker Been Sold?

This story was published more than 12 years ago.

The Los Angeles Times is reported that an agreement had been reached between Full Tilt Poker and a group of investors that could see U.S. players receiving refunds of up to $150 million.

Quoting Nathaniel Popper in his article from the Los Angeles Times, "Attorneys associated with Full Tilt said the company signed an agreement Thursday with a group of investors who would put up enough money to pay back players and in doing so attain a majority stake in Full Tilt's Irish parent company, Pocket Kings". Citing various attorneys involved in the deal, they are currently working with the U.S. Department of Justice to work out legal details relating to the Black Friday seizures and indictments that occurred on April 15th.

The information comes after rumors that Jack Binion, a gambling entrepreneur was trying to purchase the company. Details remain unclear at this point, but more details are expected to be released as the deal continues to evolve.

Full Tilt Poker, once one of the world's largest poker rooms has been embroiled in legal hot water since the seizure of its .com domain by the U.S. Department of Justice in April. Last week, the company had its license suspended in Alderney and is currently under a license review by the Kahnawake Gaming Commission.