This is the End, Beautiful Friend
June 29, 2011, Posted by Pokerfarm
Well it just got worse. This morning, the Alderney gaming board issued a statement detailing the withdrawal of Full Tilt's licence. This is huge news and something we'll be following closely over the next few days. This comes literally days after Jack Binion, founder of the World Series of Poker and chairman of Wynn International, was rumoured to be in talks with Full Tilt Poker over a potential investment.
The second biggest poker site in the world has drawn criticism for its failure to repay Americans following the events of Black Friday, leading to allegations that they have a $60 million deposit shortfall. Poker Icon Phil Ivey recently separated himself from the company leading to more panic and fear from players from all around the world.
However the recent news that Binion, trusted throughout Vegas and the rest of the States could regain some calm and reassurance to Americans to are yet to see their money.
There are also reports that Ivey had flown to Dublin, mid WSOP to have talks with Full Tilt bosses and was reassured by bosses that the investment from Binion would help turn the company around.
Our verdict was that if big Jack does come to an agreement then it is without doubt fantastic news for anybody waiting for a deposit. Why would he risk his name and faultless reputation if there was going to be anything dodgy with a company that the whole world has their eyes on?
Regardless of Jack's involvement with FTP, today's news has massive implications for online poker as a whole. Have FTP changed their servers? Is this the end? Who knows, but we'll be back with more on this breaking news later...