One of the newsier websites on most industry observers’ watch lists, eGaming Review, is firming up reports that a European investor group may be coming together with a plan that could bail out Full Tilt Poker. EGR is reporting that a deal could be on the table by the end of next week, while other sources are extending that by another week or so.
Either way, it’s brightened the prospects a little bit more for concerned FT players still hoping to be reunited with their bankrolls some time this decade. (Yes, I exaggerate… slightly.)
Perhaps the most promising hint is that EGR is at least quoting a hard source in their recent updates, in attorney Jeff Ifrah.
“Part of the deal with [the investors] will hopefully be a settlement of the DoJ case – [they have] met with Alderney and France already and will be meeting with the DoJ,” [Ifrah] added, according to EGR.
Just because a lawyer says it, however, doesn’t mean it should be treated as gospel. Lawyers are as likely as anyone to plant stories with outlets likely to release a favorable story, and if something like the EGR updates smooths over a few potential humps and Ifrah’s work with Tilt includes a contingency bonus in case of a successful resolution — possibly including a sale or re-investment — then we’d have immediate motive for such a tale.
So can we trust the rumors?
I don’t think it’s either a half-empty or half-full situation; a lot of it depends on the type of agreement that any investors and the current ownership/management of Full Tilt can reach with DOJ attorneys and the Alderney licensing overseers. Unlike the Tony G / Scott Matusow buffoonery that tends to fill up empty spaces which would otherwise be occupied by similar buffoonery uttered by others, the wisest course here is to just watch and wait. The real decisions are out of the hands of most of us, and it’s a situation where the court of public opinion has no impact whatsoever.
Neither have there been any further updates on the the rumored ouster of Tilt co-founder Ray Bitar as a condition of any deal moving forward, as went the hot rumor a few days back. Now that the issue’s been raised, however, it’ll have to be clarified along with other matters.