Breaking - AGCC revokes Full Tilt licences

Breaking - AGCC revokes Full Tilt licences

Thursday, 29 September 2011

The Alderney Gambling Control Commission has just announced that it has revoked the operating licences of Full Tilt Poker with immediate effect.

In a statement released this afternoon, the AGCC, said that “FTP had fundamentally misled AGCC about their operational integrity by continuously reporting as liquid funds balances that had been covertly seized or restrained by US authorities, or that were otherwise not actually available to the operator. Serious breaches of AGCC regulations include false reporting, unauthorised provision of credit, and failure to report material events."

The AGCC went on to say that “the revocation of FTP’s licences does not, as has been suggested, prevent a reactivation of the business under new ownership and management. Unresolved claims by players against FTP become a matter for the police and civil authorities. Now that FTP’s licences have been revoked, AGCC no longer has jurisdiction over these companies.”

The full AGCC statement can be read here.

The complete 26 page Detrmination Notice is available here.

More to follow as we get it.

Tags: Full Tilt Poker, Alderney gambling Control Commission