The Alderney Gambling Control Commission (AGCC) had a hearing with Full Tilt Poker recently, while the poker gaming community eagerly awaited the news reports. Poker players were eager to know why AGCC suspended Full Tilt Poker’s licenses on June 29, a move that affected hundreds and thousands of players worldwide who had accounts at Full Tilt Poker. Non US players, who had believed themselves safe from the adverse effects of Black Friday, found to their dismay that they could no longer access their Full Tilt Poker accounts.
Reporters waited at Victoria Park Plaza Hotel, where the hearing was taking place, passing out to the public whatever information they could gather from the hearing. The hearing commenced at 10:00 and everybody was asked to turn off their mobile devices. At 12:24, PokerNews reported that the hearing had revealed that Full Tilt Poker was willing to pay an amount of £250,000 that it owed AGCC as fees within seven days “if there was a still a chance that they could remain licensed by the AGCC.” PokerNews also reported that Full Tilt Poker wanted a private hearing, which enraged the public, who wanted to know exactly what was going on. A furious Harry Demetriou, the professional poker player, shouted: “What about the players? Why are you protecting this corrupt company?”
An AGCC spokesperson announced at 18:00 that the hearing has been adjourned to September 15. According to the AGCC website: “As a result of the arguments on behalf of FTP during the pre-hearing application the commissioners decided to adjourn the hearing as they felt it was in the best interests of FTP’s customers.” AGCC also wanted to give Full Tilt Poker time to “pursue advanced commercial negotiations, which could lead to a more beneficial outcome for player interests.”
Earlier news reports had suggested that Full Tilt Poker is conducting a number of meetings with organizations and companies, requesting them to invest in the company so that they can refund their US and non US players. In this case, Full Tilt Poker should have been in a hurry to complete the AGCC hearing and not request an adjournment. Full Tilt Poker is apparently in a larger financial mess than it wants its customers to believe. Moreover, the site still owes AGCC a substantial amount and is willing to pay it back only if AGCC will continue licensing them. All these developments prove that Full Tilt Poker needs some heavy financial backing.