Full Tilt Poker Gets License Extension but Faces Uncertain Future

Full Tilt Poker has received a two-year license extension from the Kahnawake Gaming Commission, but the company continues to face significant challenges. The extension, granted on August 2, 2011, does not allow the poker room to resume operations. The Kahnawake Gaming Commission stated that it will closely monitor the actions of the Alderney Gambling Control Commission.

Full Tilt Poker has paid off its debts to the Alderney Gambling Control Commission, which allows for continued negotiations that could result in a successful refinancing deal for the company. The next hearing, scheduled for no later than September 15, will be held behind closed doors.

Some employees of Full Tilt Poker based in the US have been sent on indefinite unpaid leave. Full Tilt Poker is in talks with European investors, but there is no information about other potential buyers. Raymond Bitar, who faces charges from the US Department of Justice, remains employed at Full Tilt Poker.