June 29, 2011 - 11:01am
By Shari Geller and Lou Krieger
If you thought things could not get worse for Full Tilt Poker and those who play on the site, you were wrong. The Alderney Gambling Control Commission (AGCC). has suspended Full Tilt?s licenses, shutting down the poker room?s operations immediately and leaving players to wonder if the site will ever reopen and their money be returned.
The AGCC issued this statement about the suspension: ?The decision to suspend these licenses follows a special investigation prompted by the indictments unsealed by US Attorney General?s Office in the Southern District of New York on 15th April 2011, during which grounds were found to indicate that these licensees and their business associates were operating contrary to Alderney legislation."
As soon as the suspension went into effect, real-money play on the site was halted and its servers were shut down. Players who were on the site at the time reported being booted off in the middle of their games. During this suspension, Full Tilt will not register any new customers, accept deposits from existing customers, allow withdrawals from existing customers, or permit any play on the site.
The suspension notices were sent by the AGCC to Vantage Ltd, Oxalic Ltd, Filco Ltd and Orinic Ltd, collectively trading as Full Tilt Poker, after a special investigation into Full Tilt?s operations, following ?Black Friday.? The suspension will remain in effect, and Full Tilt will remain shut down, pending the outcome of a July 26 hearing in London into the AGCC?s decision to suspend its licenses.
Andre Wilsenach, executive director of the AGCC, said in a written statement: ?The decision to suspend the eGambling licence was in the public interest and, because of the seriousness and urgency of the matter, it required that immediate action be taken ahead of the regulatory hearing.?
Following word of Full Tilt's suspension of operations, PokerStars issued its own statement to allay its customers' concerns. "In light of today?s news that Alderney Gambling Control Commission has suspended Full Tilt Poker?s license, PokerStars wishes to assure our customers that their funds are completely safe and that our operations are completely unaffected. The Isle of Man Gaming Commission today re-affirmed that PokerStars? worldwide licensing is intact and that our operations are in full compliance with all of its requirements. PokerStars? online operations continue as normal and all funds in players? accounts are safe and available for withdrawal as usual with no delays."
Just yesterday, rumors were circulating that Full Tilt?s financial woes might be solved by an influx of money from Jack Binion. But with the news of the licensing suspension, it is unlikely that he or any investor will want to gamble on Full Tilt?s future.
By Shari Geller and Lou Krieger
If you thought things could not get worse for Full Tilt Poker and those who play on the site, you were wrong. The Alderney Gambling Control Commission (AGCC). has suspended Full Tilt?s licenses, shutting down the poker room?s operations immediately and leaving players to wonder if the site will ever reopen and their money be returned.
The AGCC issued this statement about the suspension: ?The decision to suspend these licenses follows a special investigation prompted by the indictments unsealed by US Attorney General?s Office in the Southern District of New York on 15th April 2011, during which grounds were found to indicate that these licensees and their business associates were operating contrary to Alderney legislation."
As soon as the suspension went into effect, real-money play on the site was halted and its servers were shut down. Players who were on the site at the time reported being booted off in the middle of their games. During this suspension, Full Tilt will not register any new customers, accept deposits from existing customers, allow withdrawals from existing customers, or permit any play on the site.
The suspension notices were sent by the AGCC to Vantage Ltd, Oxalic Ltd, Filco Ltd and Orinic Ltd, collectively trading as Full Tilt Poker, after a special investigation into Full Tilt?s operations, following ?Black Friday.? The suspension will remain in effect, and Full Tilt will remain shut down, pending the outcome of a July 26 hearing in London into the AGCC?s decision to suspend its licenses.
Andre Wilsenach, executive director of the AGCC, said in a written statement: ?The decision to suspend the eGambling licence was in the public interest and, because of the seriousness and urgency of the matter, it required that immediate action be taken ahead of the regulatory hearing.?
Following word of Full Tilt's suspension of operations, PokerStars issued its own statement to allay its customers' concerns. "In light of today?s news that Alderney Gambling Control Commission has suspended Full Tilt Poker?s license, PokerStars wishes to assure our customers that their funds are completely safe and that our operations are completely unaffected. The Isle of Man Gaming Commission today re-affirmed that PokerStars? worldwide licensing is intact and that our operations are in full compliance with all of its requirements. PokerStars? online operations continue as normal and all funds in players? accounts are safe and available for withdrawal as usual with no delays."
Just yesterday, rumors were circulating that Full Tilt?s financial woes might be solved by an influx of money from Jack Binion. But with the news of the licensing suspension, it is unlikely that he or any investor will want to gamble on Full Tilt?s future.