France Suspends Full Tilt’s License

by Lou on July 5, 2011

Following in Alderney’s footsteps, France suspended Full Tilt’s license for the foreseeable future, which deepens the crisis faced by the deeply troubled poker company.

According to French regulators, Rekop Limited, Full Tilt’s French license holder, had its license suspended as a “precautionary” measure. The measure was required, according to the regulators, due to the site’s inaccessibility following suspensions last week by the Alderney Gambling Control Commission (AGCC) and Full Tilt’s need to find additional funds in order to operate.

Full Tilt’s future is uncertain to say the least, with licenses suspended, world-wide accounts frozen, two of its founders named in the original Black Friday indictments, and the small matter of its inability to return deposits to its US customers.

With no income and no licenses, the end game for Full Tilt could be near if its cash flow issues are not resolved.

Last week Full Tilt seemed poised to sell a majority stake in parent company Pocket Kings to a European investment group, but no further news has been forthcoming on that front, and no comments were heard from anyone at Full Tilt, which doesn’t appear to bode well for the success of this deal.

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