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Full Tilt License Hearing Resumes

20 September 2011 by admin

full-tilt-poker11On Monday the licensing hearing on Full Tilt Poker resumed. Held at the Riverbank Park Plaza Hotel in London, England, the Alderney Gaming Control Commission met with executives of the poker room to decide the fate of the company. To the disappointment of many in the industry, the commission decided to hold a private hearing behind closed doors. Though the results of the hearing will eventually come out, a poker community that has been rocked by the scandal had hoped for more transparency.

There is a lot of stake, most notably the existence of Full Tilt Poker and the money the company has yet to return to players. More than $150 million in customer money has been frozen and players are still waiting to withdraw their accounts. Full Tilt has said that they don’t currently have the money to pay everyone back.

The Alderney Gaming Control Commission suspended Full Tilt Poker’s license earlier this year. In the hearing, they will decide whether to reinstate the license, keep it under suspension, revoke the license or put off the decision until a later date. If the commission revokes Full Tilt’s license, the company would also lose their licenses from France’s ARJEL and the Kahnawake Gaming Commission. In effect, that would result in the extinction of the once powerful poker company.

That decision would be the strictest one, but most experts don’t think the commission will hand down the death penalty. A more likely scenario would be allowing Full Tilt to operate on a restricted basis, where their actions are under strict control and the watchful eye of the commission. Allowing them to operate would bring in money, which could attract investors. At the very least, it could allow Full Tilt to play back those players who are demanding their money.

Many in the online gambling community think that the most likely outcome is an extension of the suspension. In this scenario, the commission would decide to keep the license suspended but will save further judgment until after the U.S. Department of Justice’s court case is resolved.

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