Weeks ago, the Alderney Gambling Control Commission (AGCC) suspended Full Tilt Poker’s gambling license. The AGCC has just released a statement that Bovada Poker has paid its overdue licensing fees, which will allow the hearings on its suspended license to proceed without hindrance. One giant leap for Full Tilt Poker, one small step towards getting American players’ money back. Reports have listed the total fee at $250,000.
In the statement, the AGCC said that immediately following Black Friday and before suspending the license, it “began immediate discussions with FTP’s management in order to protect the interests of players.” These discussions with Full Tilt Poker management were ultimately fruitless, and it wasn’t until the U.S. Department of Justice seized Full Tilt domain names that the AGCC suspended the license.
The statement covers Full Tilt’s neglecting the licensing fees, until they were past overdue. During a hearing in late July, the AGCC brought up the issue, and demanded that it be dealt with before even considering lifting the suspension on Full Tilt’s gambling license. The two parties stalemated until today, when Full Tilt apparently caved in and put forward the fee.
The statement reads: “At the hearing the Commissioners of the AGCC, acting as a tribunal, decided to adjourn the hearing to a date no later than 15th September, as they felt that this was in the best interest of the players using FTP’s services. The recent payment of overdue license fees by FTP is also in players’ best interests since it allows commercial negotiations to take place that might result in a successful refinancing deal. Further details regarding the exact date and venue of the next hearing will be announced as soon as possible.”
This means that the hearing will continue to move forward and, quite likely, the eventual restoration of Full Tilt’s gambling license. With this in place, the company will be able to complete any takeover or financing deals and one day successfully resume business.