Full Tilt Gets New Investors!

According to the L.A. Times, a group of unidentified European investors has signed an agreement with Full Tilt where they would put up the $150 000 000 owed to players that had their accounts frozen in April.  In return they would be the majority stakeholders in Full Tilt's parent company, Pocket Kings.

It is expected that this money will also allow the company to settle the civil suit brought against it by the U.S. Attorney's office.  The civil suit was filed at the same time as the criminal indictment.

Poker Pro Phil Ivey had filed suit against Full Tilt for its inability to pay back players, and he had also been sitting out of this year's WSOP in protest.  His attorney, David Chesnoff said that Ivey is set to withdraw his lawsuit against the company now that he believes that the players will get paid.

Because of its inability to pay back its players, The Alderney Gaming Control Commission had suspended Full Tilt's licence to provide gaming for players worldwide.  With the deal to pay players back in place, it is unclear if Full Tilt will be able to re-start its operations for players outside of the U.S. or whether it will require a new licence from the commission.  A hearing had been set for July 26, 2011.