Full Tilt Poker Pushes for Private HearingSuspended Online Poker Comany Allegedly Owes £250,000 in Unpaid Licensing Fees in Addition to an Estimated $150 Million in Player Funds |
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Update 9:55 a.m. PST: Hearing adjourned until Sept. 15 at the latest.
The public hearing in London on Full Tilt Poker’s suspended license is currently stalled with talks of making the proceedings private. Attorneys for the online poker company are still in discussion with Alderney Gambling Control Commission (AGCC) officials as of 9:30 a.m. PST Tuesday morning.
According to eGaming Review Magazine, Michael Heslop, lead lawyer for the company, told the packed room in the Park Plaza Victoria Hotel: “It is not in the interest of justice that this should be aired in public. There is a real risk that it may be detrimental to these interests and highly prejudicial to this decision."
Rumors have been circulating that Full Tilt is in the process of being purchased by European investors who would assist the company in cashing out player accounts. It is unclear at this time who the potential investors are and whether or not they would purchase the American assets.
The AGCC suspended Full Tilt’s operating license in June because of concerns that the online poker company had breached its terms. In a brief statement earlier this month, the AGCC said, “The purpose of the hearing will be to make public evidence from both AGCC and Full Tilt regarding the suspension of Full Tilt’s license and to adjudicate the findings transparently.”
One of the charges against Full Tilt is in regards to allegedly not paying license fees amounting to £250,000. Heslop replied at the hearing: “Why spend £250,000 for licenses that no longer exist?” It has also been reported that the company’s lawyers propose to settle the £250,000 debt if the hearing can be adjourned and held in private.
Full Tilt has also failed to pay back an estimated $150 million in outstanding player funds since April’s Black Friday.
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