The LA Times is reporting that European investors are poised to buy a majority stake in Pocket Kings, the parent company of Full Tilt Poker. So far this is the only report on the matter, but the Times got this quote from Phil Ivey’s lawyer, David Chesnoff “Mr. Ivey intends to dismiss his lawsuit as he believes Full Tilt is taking steps to see that the players are paid.” No statements directly from Full Tilt Poker were obtained but the report says “Attorneys close to Full Tilt said that the deal reached Thursday was part of broader negotiations to clear up its legal problems with Alderney and U.S. prosecutors.”
This should be tentative good news for US players with money on Full Tilt Poker. Any attempt to resurrect the brand should probably include paying players their outstanding balances. The report does not name the investors in any detail, and does not go as far as to say that US players are guaranteed to be paid.
It seems a bit odd that the LA Times broke this story. Usually news like this comes from more poker-centric sources. The story does have a couple inaccuracies. It states that three sites were “shut down” by the US government. PokerStars, Full Tilt Poker, and Absolute Bet. In one paragraph of the story they correctly mention that those “three” sites still operate outside the US and then in the next paragraph they call them “shut down”.
I am sure more information should become available soon. Check Holdem Poker Chat for up to the date information