Purchase Full Tilt has not come to fruition
Bernard Tapie's attempt to take-over Full Tilt Poker has failed, according to several media sources. It appears that the French investor couldn't reach an understanding with the US Department of Justice (DOJ) on the repayment plan.
Re-launch and promotions
All players would be refunded 100%, according to the source. In addition, both online poker
rooms would be re-launched and offer promotions. If the deal would come to fruition, staff of both sites would keep their jobs.
In November last year, the French investment group reached an agreement with the DOJ to buy the confiscated player balances for $80 million. Tapie doubted the profitability of the total investment, which included purchasing the FTP assets and the money needed to re-launch Full Tilt Poker.
Repayment plan worth $330 million
Yesterday, reports emerged about Poker Stars purchasing Full Tilt Poker's player balances for $750 million from the Department of Justice. Alex Dreyfus, chief executive officer of Chili Gaming
, tweeted that the repayment plan valued $330 million. The other $420 million would be needed to pay-off pending charges against Poker Stars.