It's been more than a month that poker fans have been hearing rumors about a consortium of European investors planning to acquire Full Tilt Poker. This piece of news brought about a lot of positive sentiment especially amongst players whose funds have been stuck with the site for a while now. However all that good cheer about the supposed takeover has waned considerably over the increasing passage of time and the latest information received will not make things any better.
In a press release issued exclusively to PokerNews India by Full Tilt Poker, it seems the company is now seeking other possible investors. Here is the press release which we received Monday, August 22, 2011, in its entirety:
Dublin, Ireland (August 22, 2011) - On August 16, Irish based Pocket Kings Ltd., brand executor for the Full Tilt Poker moniker, concluded the exclusivity period of negotiations with their current potential investor.
While Pocket Kings Ltd. plans to continue discussions with its current investor, the company has now begun negotiations with additional potential investors to conclude the sale/partnership of the Full Tilt Poker brand and its assets.
Full Tilt Poker apologizes for its lack of communication with its customers over the last month and a half, but it has been grappling with unexpected and complex legal and financial issues arising from Black Friday and its aftermath. In addition, the company has had to be circumspect about disclosing the progress of negotiations with potential investors because there is often a requirement of strict confidentiality.
To the extent that it can do so without jeopardizing future opportunities, Full Tilt Poker will strive to have better communication with its customers going forward. Full Tilt Poker's number one priority remains the same: to secure an infusion of capital to repay all of its worldwide customers.
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