European investors to buy Full Tilt?

European investors to buy Full Tilt?

Friday, 1 July 2011

Full Tilt Poker is set to be bought by a group of unnamed European investors according to a report in the Los Angeles Times. The paper reported that the “deal could allow U.S. players to recover as much as $150 million from the online poker company.”

The article goes on to say that the agreement would give the investors a majority stake in Full Tilt's parent company, Pocket Kings as well as seeing Phil Ivey, who is currently sitting out the WSOP, drop his lawsuit against Full Tilt. David Chesnoff, Ivey's lawyer told the LA Times, “Mr. Ivey intends to dismiss his lawsuit as he believes Full Tilt is taking steps to see that the players are paid.”

The deal isn't expected to be completed for another three weeks.

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Tags: Full Tilt Poker, Black Friday, Phil Ivey