The Disassembling of Full Tilt Poker

by Lou on October 22, 2011

As many as 180 employees of Pocket Kings, the Dublin-based subsidiary that provides software, information technology, management and customer support services for Full Tilt Poker, will be laid off.

Earlier we reported that the company would seek to reduce its staff following a four week “consultation period” that has since passed.  This is continuing fallout from the Channel Island of Alderney’s Gambling Control Commission’s revocation of Full Tilt’s license at the end of September, which banned it from continuing operations. Full Tilt’s license was revoked after the US Department of Justice filed bank fraud and money laundering charges against the company in April.

Last month US attorney Preet Bharara added a fresh complaint to the charges, alleging that Full Tilt used $440 million in players’ funds to pay owners and directors. In addition, US-based players have sued Full Tilt, seeking the return of funds owed to them.

Earlier this month we reported that French group Bernard Tapie made an offer to buy Full Tilt’s assets and business and provide funds to repay players.  The offer was conditioned on Tapie reaching an agreement with the Department of Justice regarding the charges against Full Tilt.

Approximately 500 people were employed in Dublin by Pocket Kings.  With 180 employees about to be shown the door, 320 are presumably still employed by Pocket Kings. But with Full Tilt unable to provide poker games anywhere in the world, I wonder what the remaining 320 employees are doing when they show up for work each day—other than working on their resumes.

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