Full Tilt Poker: Not Sold Yet, Exclusive Negotiations Underway

Full Tilt Poker has entered into an exclusive negotiation agreement with European investors, introduced by Phil Ivey. The agreement, reached on June 30, 2011, prohibits Full Tilt from engaging in new negotiations for at least three weeks. This development follows a period of intense speculation and legal challenges for the poker room.

Phil Ivey introduced the European investors to Full Tilt's management in mid-May. Shortly after, on May 31, Ivey made a sensational announcement about boycotting the WSOP and filing a lawsuit against Tiltware. However, on the same day the exclusive negotiation agreement was reached, Ivey withdrew the lawsuit.

The agreement with European investors was reached on June 30, 2011. This agreement prohibits Full Tilt from entering into new negotiations with other potential investors for at least three weeks. The complex corporate structure of Full Tilt, the scrutiny of law enforcement agencies, a civil lawsuit from the U.S. Department of Justice, and issues with Alderney, ARJEL, and Kahnawake all require careful consideration. Full Tilt's main requirement is a sum that covers not only the costs of paying all players but also the expected fine resulting from the U.S. Department of Justice's lawsuit.