Full Tilt owes players $100-$150 million

According to inside Full Tilt sources, they owe players $100-$150 million. When the Black Friday indictments led to freezing of bank accounts with comingled funds, it put serious pressure on their assets, especially when it was revealed that Full Tilt had credited player accounts for $60 million worth of funds over time that it was unable to collect from their banks due to the clamp down post UIGEA. Nearly six weeks later and Full Tilt is still struggling to right their finances and has been shopping equity in their site in exchange for a $150 equity transfusion to help resolve matters.


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SmokeDaAces
SmokeDaAces Silver 2
3710d ago

I wonder how long they will remain in financial troubles? As they only give 27% of rakeback they must be pocketing a large sum of money..so could it be the employees and hhds are being paid too much? Maybe they need to take a cut until the issue is resolved?

 

ICalledWithJunk

Their banks account were frozen therefore they don't have any access to money at the moment... the first bank account was unfreeze late last week. Otherwise its all seizes by the DOJ. Some are saying that FTP owners are currently liquidating their assets to pay off lawyers fees. Not looking good for US players that for sure, as for Europeans etc there ''SHOULD NOT'' be any problem.

atula7
atula7 Silver 1
3707d ago

wow :O

TedHeris
TedHeris Silver 3
3706d ago

This is impossible!!!

PF_pitboss