GBT Continues To Withdraw From Attempted Full Tilt Poker Acquisition

Published on April 25th, 2012 1:15 pm EST

Earlier today, the AGCC (Alderney Gambling Control Commission) announced that the Category 2 eGambling license application for Orinic Limited has been officially withdrawn.

The AGCC also announced that the scheduled public hearing for the Orinic Limited license application has been cancelled.

This news comes one day after Groupe Bernard Tapie announced that their planned acquisition of Full Tilt Poker had failed. Groupe Bernard Tapie lawyers blamed "legal complications" and an "11th hour" change to the planned ROW (Rest of World) repayment plan by the DoJ as the reasons behind the deal failure.

As part of their planned acquisition of Full Tilt Poker, Groupe Bernard Tapie was looking to secure a license from the AGCC to re-open the Full Tilt Poker brand.

In their statements to the public, lawyers for GBT also alluded to the fact that the Department of Justice is currently negotiating with a second party, which is widely believed to be Pokerstars. When the news of Groupe Bernard Tapie's withdrawal from their planned FTP acquisition emerged yesterday, it was also accompanied by rumors that Pokerstars was going to step up and purchase Full Tilt Poker and settle with the Department of Justice at the same time.

Pokerstars has remained silent on the matter so far, saying that they are currently involved in confidential negotiations with the DoJ and that there will be an update from their side once there is news.

Source: GamblingControl.org - Orinic Limited License Application Withdrawal Notice (*.pdf)

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Filed Under: Online Poker Rooms

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