Full Tilt Poker has been a mess since Black Friday. Lawsuits, gaming licenses, financial issues, and complex legal issues have been following Full Tilt Poker like a black cloud for the past few months. It’s been a huge fall from grace for this once number one ranking online poker site. Because of its previous position, one would have thought that Full Tilt Poker would have gotten new investors by now. But then again, with the onslaught of problems that keep piling up, there’s certainly very little appeal to buy into that.
Full Tilt Poker through it all has been lacking clear communications, and that’s been a problem. They finally released a statement this week, to clarify the rumours about a group of European investors they are in talks with. In their statement though, it seems to be that the deals being made with the European group of investors will not be going through anytime soon. Full Tilt Poker has started to pursue alternative investment.
One of the reasons as to why it’s taking so long for Full Tilt Poker to get an investment is that anyone who does buy them, is going to be paying a hefty sum before they even make a profit. It is stipulated in contracts that whomever purchases Full Tilt Poker is responsible for paying back U.S. customers $150 million in overdue account funds. That’s a pretty expensive debt to pay off before you can even make a profit, and even then, it would take some time to remake that money back, since many players have moved on to other poker sites.