French company to purchase Full Tilt Poker
Full Tilt Poker announced Friday that Groupe Bernard Tapie has agreed to purchase the troubled online poker room and its assets.
The development comes only one day after Full Tilt's gambling license was revoked by the Alderney Gambling Control Commission.
In a news release posted on PokerStrategy.com, Full Tilt says that a deal between itself and the French company "includes the repayment of Full Tilt Poker’s world-wide players in full."
The deal is contingent on a "favorable resolution with the United States Department of Justice," according to the release. The release is attributed to Laurent Tapie, the son of French business tycoon Bernard Tapie and the managing director of the company that bears his father’s name.
Bernard Tapie is one of France's most prominent businessmen. He is most well-known for his 1990 purchase of Adidas. According to Full Tilt's press release, his company “has over 30 years of experience in the salvation of financially distressed businesses, with over 40 companies acquired and managed to profitability."
Bernard Tapie, like Full Tilt, has also seen his share of controversy. He served six months in prison in 1997 after being convicted of fixing a soccer match between Olympique Marseille (a team he owned from 1986-1994) and Valenciennes. He has been prosecuted for tax fraud as well, according to published reports.
Laurent Tapie spoke with iGaming France on Friday and said that “wouldn’t have undertaken such a project if he didn’t believe in its potential.”
The development comes only one day after Full Tilt's gambling license was revoked by the Alderney Gambling Control Commission.
In a news release posted on PokerStrategy.com, Full Tilt says that a deal between itself and the French company "includes the repayment of Full Tilt Poker’s world-wide players in full."
The deal is contingent on a "favorable resolution with the United States Department of Justice," according to the release. The release is attributed to Laurent Tapie, the son of French business tycoon Bernard Tapie and the managing director of the company that bears his father’s name.
Bernard Tapie is one of France's most prominent businessmen. He is most well-known for his 1990 purchase of Adidas. According to Full Tilt's press release, his company “has over 30 years of experience in the salvation of financially distressed businesses, with over 40 companies acquired and managed to profitability."
Bernard Tapie, like Full Tilt, has also seen his share of controversy. He served six months in prison in 1997 after being convicted of fixing a soccer match between Olympique Marseille (a team he owned from 1986-1994) and Valenciennes. He has been prosecuted for tax fraud as well, according to published reports.
Laurent Tapie spoke with iGaming France on Friday and said that “wouldn’t have undertaken such a project if he didn’t believe in its potential.”