Full Tilt Poker Pays License Fee, Fires Employees

Full Tilt Poker reportedly paid the £250,000 license fee to Alderney, which they were reluctant to do so during the July 26 hearing. They also sacked many of their U.S. employees in order to sort out the company. Many sources reported not long ago that Full Tilt Poker has let go of many of its employees. According to such reports, mainly U.S. persons were fired, who worked in their offices since the Black Friday. Pocket Kings Ltd's employees in the Irish headquarters of Full Tilt Poker are still working and receive their salaries, but it is unsure for how long.

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These news, however, are not necessarily bad for Full Tilt Poker's players, as it can easily mean that FTP is only putting things in order around the company before a proposed sale. This is further proven by the fact that FTP paid the £250,000 debt in license fees, which they owed to Alderney, so now they have the chance of getting it back if they can find an investor, which they have been looking for since April. As the updated AGCC site says: "The recent payment of overdue licence fees by FTP is also in players’ best interests since it allows commercial negotiations to take place that might result in a successful refinancing deal."

Even though, as everything is highly uncertain at this point, it could also mean that the company started to dismantle itself, which will eventually end in it becoming bankrupt.

As I already reported [4], the Alderney Gambling Control Commission held the hearing on July 26 in London, and adjourned it to September to the request of Full Tilt Poker attorneys. Until no later than September 15 FTP has time to find an investor who is willing to pay their customers. No information has surfaced concerning the investors so far.