Full Tilt Deal Could Happen Next Week

July 9th, 2011 | 4:28 pm

Encouraging news for U.S. players looking to cash out.

By Ian Hiaring, Rakeback.com Poker News Staff Writer

If everything goes according to plan, it’s beginning to appear that the reported purchase/investment in Full Tilt Poker by an anonymous European group could be “on the table by the end of next week.”

On its website, eGaming Review is reporting that the deal would lay the groundwork that would lead to the payment of U.S. players who have been waiting to cash out their unusable account balances. There is also hope that the lawsuits brought against Full Tilt Poker by Phil Ivey and others will also be wrapped up when the deal is completed.

eGaming Review spoke with Jeff Ifrah, a lawyer who represents Full Tilt Poker, and while he expressed confidence that the deal will be completed soon, he was unwilling to reveal exactly who the investors were. He did offer a few minor tidbits though. The investors are not from another online gaming company and they come from the financial sector.

Ifrah also debunked the rumor that Ray Bitar had been ousted as the CEO of Full Tilt Poker.

“We can completely deny the reports that Ray Bitar is no longer CEO. In fact that [rumour] really ruined his day yesterday. It doesn’t help anyone for sites to be reporting news that’s not true,” Ifrah said.

It’s been a rough couple of months for Full Tilt Poker, but it’s starting to look like there may at least be a glimmer of light at the end of the tunnel for the company, as well as U.S. players who have become frustrated with the company’s inability to process cashouts.

Stay tuned to the Rakeback.com News page for breaking news on the situation.