by Mario Alfonsi | Published on Dec 16, 2011 | Updated on Dec 16, 2011
This Full Tilt story has been going on for quite some time now, and finally it is looking like there might be a light at the end of the tunnel. The remaining shareholders from Full Tilt took place in a vote that was to decide whether or not they would give their remaining assets to the US Department of Justice. The vote, according to many different sources, was passed which means that former players may actually have some concrete evidence that they may be getting some of their lost money back. Once these assets are sold to the US DOJ, they will then be sold to Groupe Bernard Tapie so that they can move forward with their own operations.Shareholders of poker site Full Tilt are still able to buy into the new company, but there will be some limitations. For one, they will only be allowed what is speculated to be a very small number of shares and will have to buy them at a set price. Also, anyone that is on the current board of directors will not be able to participate in any aspect of the management of the newly formed company.At this point the focus shifts from Full Tilt to Groupe Bernard Tapie and their agreement with the DOJ. If this agreement is as solid as most people think, there should not be many issues but that is yet to be seen. What that agreement entails is that GBT will buy the assets from the US DOJ for an estimated $80 million and in addition to that they will also be responsible for paying back the total of $150 million that is owed to former players. Is this the light at the end of the tunnel? Or is it just another opportunity for us to get our hopes up only to have them dashed later? We will find out in the coming weeks.
