French Investor and DOJ Allegedly Reach Agreement on Full Tilt Poker SaleAmerican Players Would Have to Seek Compensation from DOJ |
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Updated: The Wall Street Journal reported that an attorney for Groupe Bernard Tapie said the French investor reached an agreement with the Department of Justice that could lead to the acquisition of Full Tilt Poker for $80 million.
Groupe Bernard Tapie is seeking to restart the poker site’s non-U.S. business.
The acquisition would allegedly facilitate paying out non-U.S. customers, despite the company owing $150 million to Americans. At least some of that figure could be covered by what the DOJ has seized from the company over the years. Former American customers who are owed money reportedly would have to seek compensation from the DOJ.
Any deal would be contingent on Full Tilt Poker settling its civil case with the DOJ. In September, Manhattan U.S. Attorney Preet Bharara called the company a “global Ponzi Scheme.”.
Earlier on Thursday CNN Money posted a story on the deal but later deleted it from its website.
Yahoo! Finance relayed the news on its website before issuing an editors’ note stating that the story was “under embargo.”
The developments on Thursday come after rumors of the deal with the DOJ first began circulating earlier this month.
The DOJ has repeatedly said it cannot confirm or deny the deal.
News broke in June that the company had signed an agreement with a group of European investors in order to pay back players, however, nothing materialized.
Card Player will continue to monitor the story and provide updates as more information becomes available.
Follow Brian Pempus on Twitter — @brianpempus
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