According to the Los Angeles Times, a powerful group of European investors are poised to help Full Tilt rescue a bit of its reputation.
According to the newspaper, the deal is already inked and signed and gives the investors enough of an investment to become majority stakeholders in the damaged company.
Full Tilt lost its European gaming license this week when the Alderney Game Control Commission revoked its license indefinitely. Full Tilt (along with PokerStars and Absolute Poker) was already in trouble in the United States after the April 15 government shut-down of online poker. The government is also seeking $3 billion damages from the indicted rooms.
Unlike AP and PokerStars, however, which returned player money as quickly as they could, Full Tilt refused to release player money. Though site officials said they were working with the government to get player monies released, speculation was that the site had run out of money and didn’t have the funds to return to players.
It’s believed that the investors will attempt to keep Full Tilt in business and begin to rebuild the brand and reputation of the powerhouse site, which saw its attendance drop to zero after the news this week.