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Wednesday, September 21, 2011

Full Tilt Near Deal To Sell

Just when you thought Full Tilt was down for the count.
"The reports of my death are greatly exagerrated."- Mark Twain
Subject:Poker is reporting that a letter of intent to buy Full Tilt Poker has been executed by a French investment group.

Below are some of the details.

  • There is an executed term sheet/letter of intent in place.

  • Ifrah says the funds of the potential investor have been vetted by Full Tilt and the US Department of Justice.

  • The terms say that any purchase agreement would provide funds to allow the repayment of account balances to all Full Tilt Poker players worldwide.

  • The DOJ is aware of this letter of intent and its terms and, in fact, has already received a copy.

  • The investor hopes to include in any deal the settlement of pending DOJ fines, which would, in effect, satisfy the civil complaint now facing Full Tilt Poker and its various companies.

  • The Alderney Gaming Control Commission is aware of the pending deal. They have received specific information about the deal from both Full Tilt and the prospective investors.

  • If we get our money at this late stage, consider it hitting a one outer on the river.

    Read the full story here.

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