Full Tilt Poker Pays for Overdue Alderney License

Full Tilt Poker (FTP) has been on a downward spiral since the events of Black Friday back in April and has yet to show any serious signs of being able to stage a comeback onto the international online poker scene.

FTP problems started when its dot com domain was seized by the FBI and federal indictments were filed against its founders. It continued with its inability to refund monies belonging to US players and until today no player has received their funds.

The lack of refunds has caused Alderney, its main interactive gaming license provider, to withdraw its license subject to a hearing that keep getting postponed in order to allow FTP to find a buyer for its dying business. This license lose was followed by FTP also losing its French license.

Even since the Alderney license was suspended the FTP website is displaying the same “down for maintenance” notice and none of its players can access the software to play poker games or withdraw the money they have in their player account.

Now FTP has come up with $250,000 for payment of past due license fees to the Alderney Gambling Control commission that published a statement on its website stated that the overdue payment was in FTP players’ “best interest since it allows commercial negotiations to take place that might result in a successful refinancing deal.”

This latest move has yet to reassure players from the US and other countries that have a lot of money tied up in their FTP player accounts. It is estimated that FTP holds at least 100 million USD of US player funds and probably double that amount in money belonging to international players.