Full Tilt Poker Sale Already on Life Support?

It seems that the pending sale of Full Tilt Poker to Group Bernard Tapie may already be in danger of falling apart.  According to a report on Gaming-awards.com, the Board of Directors for the site may end up stalling the deal out of existence.

Looks like the Full Tilt Poker sale may fall through before it even starts.

The “acquisition agreement” between Full Tilt Poker and Group Bernard Tapie was signed two weeks ago.  While the agreement is dependant upon the company resolving their civil complaint from the United States Department of Justice, the agreement must still be voted on and ratified by the Board of Full Tilt Poker.  Apparently the board which controls about thirds of the shares of the company have not voted on the agreement, nor have they bothered to even schedule a meeting to take a vote.

Full Tilt Poker has their gaming licenses revoked a couple of weeks ago by the Alderney Gambling Control Commission after they determined that Full Tilt lied about their financial status to the commission.  The day after, the deal with the Bernard Tapie Group was announced.

Details regarding the sale have been discussed with the biggest hurdle being the civil complaint with the US DOJ.  Tapie said in an interview that former owners not convicted by the DOJ would potentially be invited to invest in the new Full Tilt Poker.  In addition, those with the biggest amounts owed to them from Full Tilt would be potentially offered stakes in the new company.

If the recent report has any validity, it would seem that the Full Tilt board may have dropped the ball.  Board members Howard Lederer and Chris Ferguson have still not been seen or heard from in months and Rafe Furst has not been  heard from since releasing an open letter shortly after the modified complaint was filed by the DOJ last month.  Full Tilt has also yet to make any statements in over a week regarding the sale.

We will bring you more on the unfolding Full Tilt saga as more details emerge.

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