October 11, 2011 05:27 ET

It May Not Yet Be All Over for Full Tilt, Says

Full Tilt Poker had to close its site as a result of the Black Friday crackdown, but there still seems to be some hope for the poker site.

LONDON, UNITED KINGDOM--(Marketwire - Oct. 11, 2011) - On April 15, when the US Department of Justice forcibly closed down three of the major poker sites including Full Tilt Poker and revoked their licenses, it was believed that the companies would now be closed for good. But feels that all is not lost and there is still hope for the poker companies, as a press release from Pocket Kings, which runs Full Tilt Poker seems to reveal.

The press release stated that a European investor is likely to infuse new money into the business and that the company had already concluded the exclusive negotiation period with the investor. This has raised new hope that Full Tilt Poker will reopen in a short period of time or at least repay its patrons who used to play real money poker online at the site.

The release further stated that Pocket Kings has planned to hold discussions with other potential investors while negotiations with the current investor are still under way. These discussions should help Pocket Kings reach a conclusion regarding the partnership or sales of the Full Tilt Poker brand and its assets. This statement, actually intended to instill more confidence in the players, evoked a negative response in the end, with questions being raised as to why Pocket Kings have had no fruitful discussions with any of their potential investors.

Ever since the Black Friday closure, Full Tilt Poker has been in the news for all the wrong reasons. While other sites like PokerStars almost immediately paid back the money from their players' accounts after the closure, Full Tilt Poker has hardly been able to pay back the money deposited by its players. Also, with the Alderney Gaming Control Commission revoking its license, Full Tilt Poker was left with no choice but to suspend all its operations. Also see the press release on MSN for more information about the US online poker situation.

The company also came in for a lot of flak for its inefficient communication with players, especially after players could not access their accounts and play poker online at Full Tilt Poker. This factor was also addressed by the Pocket Kings in the press release, stating that Full Tilt Poker would try its best to facilitate better communication between its players and that their topmost priority would be to secure the necessary capital to repay all of its customers.

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