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Bernard Tapie Group will not purchase Full Tilt Poker

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Bernard Tapie Group will not purchase Full Tilt Poker
Written by Philippe Ramou on Monday, May 14, 2012

Bernard Tapie Group (GBT) has announced that after 7 months of intensive work, the negotiations with the US Department of Justice (DOJ) have collapsed. Thus, the group will not take over the online poker card room Fulltilt Poker.

Disagreement between DOJ and GBT

The reason behind the failure in the negotiations between the GBT and the DOJ is that there has been a disagreement on the terms defining how to repay players. At the last minute, the DOJ apparently demanded a full refund to all players within 90 day.

A possible takeover of Full Tilt by PokerStars

Beside the announcement that negotiations had come to an end, speculations have circulated regarding a possible takeover of Full Tilt Poker by Poker Stars for around $750 million, including $330 million provided for the reimbursement of players. So far, no official announcement has confirmed these rumors. However, none of the two parties involved has denied them yet, either.

The project of an online room by GBT

Straight after the breakdown of the negotiations with the DOJ, GBT sent an email to the main employees of Full Tilt Poker. The message contained an offer to join the group, with the objective of creating a new online poker room that GBT plans to launch in 6 or 7 months. The announcement has been received with a great deal of irony by many professionals working in the industry. In particular, the owner of Bodog, Calvin Ayre, wrote on his Facebook wall that Laurent Tapie must be dreaming if he thinks he can launch a leading virtual room on the market of online poker in just six months.

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