Full Tilt Poker License Suspended & Possibly Sold

July 1st, 2011 by | No Comments

In addition to finding its American business shut down, Full Tilt Poker has now lost its European license. The Alderney gambling control commission suspended the operating license for the poker site this week.

“The decision to suspend these licenses follows a special investigation prompted by the indictment unsealed by the US Attorney General’s Office in the Southern District of New York on 15 April 2011, during which grounds were found to indicate that these licensees and their business associates were operating contrary to Alderney legislation,” said a statement issued by the Gambling Control Commission.

The commission said its investigation shows that Full Tilt employees and their associates have operated contrary to the gambling laws. Full Tilt, PokerStars, Absolute Poker and other poker sites lost their right to operate in the United States on April 15 when the government handed down indictments charging the companies and their founders and employees with bank fraud, money laundering and other crimes.

Shortly after the shutdown, most of the online poker rooms were either working on returning money to players or had already done so. Full Tilt, however, did not return player money and most American players report that they still have not received money they held in their Full Tilt accounts.

Poker star Phil Ivey even officially disassociated himself from the site, for which he was a sponsored Pro, due to concerns about players not receiving their monies. He also filed suit against the company.

When it heard the news of the shut down, Moneybookers, a major online payment site for online poker and casino sites, announced it would no longer accept deposits made to Full Tilt Poker anywhere in the world.

Full Tilt Poker Now Sold?

Rumors have been circulated in the poker world that Full Tilt Poker has been sold. LA Times first broke the story that they have been sold to European investors. No one knows who the buyer is but many have thought it could be Bwin.Party.