Full Tilt and GBT reach agreement on assets
Assets will be transferred from operator to French consortium, with forfeiture to DoJ expected to follow.
Full Tilt Poker (FTP) and Groupe Bernard Tapie (GBT) have reached an agreement for the transfer of the operator’s assets, following on from November’s acquisition agreement.
According to poker blog site Subject: Poker, GBT principal Laurent Tapie met with FTP employees in Dublin today to inform them of the status of his group’s acquisition of the operator, with the forfeiture of the transferred assets to the United States Department of Justice (DoJ) believed to be on the horizon.
As specified upon the signature of the acquisition agreement last month, FTP’s existing directors have surrendered their controlling share in the company, although it has been suggested that they may be permitted to purchase “passive” equity in the new company once it restarts operations.
The news comes just hours after eGaming Review learned of GBT’s application for a Spanish egaming licence: it was among the final wave of applicants for a licence in the newly regulating market.
While the forfeiture of assets and the subsequent dropping of civil charges against Full Tilt and its subsidiaries are yet to take place, and indeed the “Full Tilt Companies” were recently given a further extension to respond to the DoJ’s civil complaint, it is believed that these steps will follow in the near future.