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Full Tilt and GBT Deal Solidified

After weeks of silence, it now appears the Full Tilt Poker bailout buyout by Groupe Bernard Tapie (GBT) is all but complete. Subject: Poker reported today that the two sides completed an agreement that will send Full Tilt’s assets to the French investment firm.

The next step will involve Full Tilt forfeiting their assets to the U.S. Department of Justice from whom GBT will buy them for an already agreed upon price of $80 million. Following this transaction, GBT assumes responsibility for the money owed to non-U.S. players. As part of the deal, the DOJ will drop civil complaints against Full Tilt and will also be responsible for the ~$150 million liability to U.S. players.

This long process is not yet completed, but it does appear that, barring any unforeseen setbacks, Full Tilt players worldwide will be repaid in full which is certainly great news for the poker economy.


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