Equity stake for Full Tilt players?

Equity stake for Full Tilt players?

Tuesday, 4 October 2011

If the proposed rescue of Full Tilt Poker by the Groupe Bernard Tapie goes ahead players with money outstanding could be offered equity in the company.

In a report in the Wall Street Journal, Benham Dayanim, lawyer for the Groupe Bernard Tapie, said that “the Tapies may address Full Tilt's liabilities by offering equity in a revived company to poker players owed the most money.” The WSJ report also suggested that the Groupe Bernard Tapie is seeking investment from the current owners of Full Tilt but that the they would have no management role in any new company.

There are plenty of hurdles that the Groupe Bernard Tapie must clear before any potential takeover can proceed though, most notably agreement from the US Department of Justice and a new operating licence after the Alderney Gambling Control Commission's recent revocation.

Full Tilt has player liabilities of over $300m.

Tags: Full Tilt Poker, Alderney Gambling Control Commission, Groupe Bernard Tapie