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Poker Stars to buy Fulltilt Poker

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Poker Stars to buy Fulltilt Poker
Written by Philippe Ramou on Friday, July 20, 2012

After seven months of hard work, last May Bernard Tapie Group announced that it would not take over Fulltilt Poker. At the time, rumors claimed that the online poker room might be acquired by Poker Stars. This now seems to be confirmed by the recent announcement made by Ray Bitar, the CEO of Fulltilt Poker, who is currently under custody in New York. Bitar stated that the discussions between the two former competitors had been rife.

A quick sum up of the events

After the famous Black Friday, Fulltilt Poker had its gambling licence suspended and then revoked by the Alderney Gambling Control Commission (AGCC). Since then, many investors expressed their interest in a possible takeover of the online poker room, including the Bernard Tapie Group. However, the negotiations were not successful.

American players likely to get a refund

Discussions between Fulltilt Poker and Poker Stars begun as early as last April. The takeover of its former competitor could cost a whopping $750 million to the current world number 1 in the online poker market. This sum would include the refund of the U.S. members of Full Tilt Poker.

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