Full Tilt Poker Sold to European Investors: What Happens Next?

Full Tilt Poker has been sold to a group of European investors, according to a report by the Los Angeles Times. The sale will allow the company to pay $150 million to US players, settle a civil lawsuit, and address accusations from the US Department of Justice.

The deal involves a group of investors buying out debts to players in exchange for control over Pocket Kings. The sale will also allow Full Tilt Poker to settle a civil lawsuit and address accusations from the US Department of Justice. The US government intends to collect approximately $3 billion from Full Tilt, PokerStars, and Absolute Poker.

David Chesnoff, attorney for Phil Ivey, stated that his client plans to withdraw his lawsuit against Full Tilt from Nevada state court. "Now Mr. Ivey is confident that Full Tilt is taking the necessary steps to pay back the players," added Chesnoff.