Full Tilt to be sold to European investors?

Less than a week after its international operations were suspended, Full Tilt Poker has reportedly been bought by European investors, according to the Los Angeles Times.

In an article published on July 1, LA Times reporter Nathanial Popper claims investors have agreed to finance the return of $150m in outstanding player funds in return for a ‘majority stake’ in Full Tilt Poker.

Popper also claimed that megastar Phil Ivey is set to drop his lawsuit against Full Tilt’s software provider Tiltware, ‘as he believes Full Tilt is taking steps to see that the players are paid’, while some of the money invested will be used to settle a civil lawsuit brought against the beleaguered company by the U.S. attorney’s office.

According to Popper’s article:

‘Attorneys associated with Full Tilt said the company signed an agreement Thursday (June 30) with a group of investors who would put up enough money to pay back players and in doing so attain a majority stake in Full Tilt’s Irish parent company, Pocket Kings. The attorneys spoke anonymously because of the sensitivity of ongoing negotiations with the federal prosecutors in Manhattan who brought the charges.’

The full article can be found here:

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