Full Tilt Poker has issued a brief press release, in which they discuss several facets of their current situation. Made available exclusively to PokerStrategy.com, this document makes it clear that the company is preparing for major changes.
As poker fans across the world know, the former online gaming giant is currently embroiled with several lawsuits and other major distractions. Perhaps most troubling, however, is the suspension of their license by the Alderney Gambling Control Commission.
“As a result,” the press release reads, “Pocket Kings Ltd. (provider of marketing and technology services to Full Tilt Poker) has adopted a cost optimization program and estimates that they need to reduce their costs by approximately €12m. This program is intended to streamline the company’s operations in order to better position itself for future growth and profitability in Full Tilt Poker’s markets outside of the U.S.”
While the company plans to reopen its doors once their house is in order, there will be a few less occupants hanging around the offices. The press release goes on to state that “if all of the required cost savings were to be achieved through redundancies, approximately 250 positions could be affected; however the exact number cannot be confirmed until the conclusion of a consultation process with its workforce.”
So, the future plans for Full Tilt appear to revolve solely around non-US poker markets. This is to be expected, considering the company’s rocky nature with the American authorities. Even if online poker were to be legalized within US borders, it is unlikely that the government would be willing to grant them an operating license.