Groupe Bernard Tapie, an investment company belonging to the father of Laurent Tapie, who might soon become the CEO of Full Tilt Poker, has decided to purchase Full Tilt Poker with the purpose of reviving it.
The Tapies are widely acclaimed for purchasing companies in distress. Laurent Tapie told reporters Monday that the company is interested in Full Tilt Poker, which is still a great online poker site although in trouble.
Simultaneously, he admitted that Full Tilt needs to refund around $300 million to poker players all over the globe. Any acquisition deal signed between Groupe Bernard Tapie and Full Tilt Poker will include a complete refund to all the players waiting for their funds. Stating that players are the key assets of Full Tilt Poker, he said that Groupe Bernard Tapie will invest all the funds required to please Full Tilt Poker players.
The US Department of Justice (DoJ) has leveled allegations of criminal as well as civil nature against the fallen poker giant, which now stands accused of bank fraud, money laundering, Ponzi scheme, and illegal gambling. The online poker service provider’s domain name was seized in mid April this year.
Laurent Tapie said that Groupe Bernard Tapie will not acquire Full Tilt Poker unless the civil charges against the company are first resolved. Regarding the criminal charges, he said that individuals found guilty will not be permitted to work for Full Tilt Poker in future.
Speaking about the financial aspects of the deal, Mr. Tapie said that they have not yet been finalized because it is not yet known for sure if the company will ultimately be able to refund Full Tilt Poker players, a fact that is very seriously considered by the DoJ.
During the negotiations between Full Tilt Poker and Groupe Bernard Tapie, the possibility of online poker being legalized and regulated in the US was also taken into consideration because the US has a large number of online poker players. Right now, Groupe Bernard Tapie is taking it for granted that the US poker market is closed to Full Tilt Poker, but is ever hopeful that it will be thrown open for offshore poker companies once the online poker industry in the US is legalized.
Stating that gambling is part of human nature and has been around for centuries, Mr. Tapie said no anti-gaming law can stop it especially now that the Internet has made it easily accessible.