Full Tilt Poker in refinancing discussions, hope for 700 jobs?

7 Jul 2011

There may still be hope for the 700 Irish jobs at risk at Full Tilt Poker, as the online poker website is in early talks to refinance the business after its licence was suspended.

The Irish Times reports that the Alderney Gambling Control Commission (AGCC), after suspending Full Tilt Poker’s licence last week, is in discussions with the online gaming company and an unnamed third party to allow it to reopen to players.

Reports suggest that European investors may finance the company. Others have linked Las Vegas casino owner Jack Binion to investing in Full Tilt Poker.

The licence’s original suspension came after an investigation in which the commission discovered Full Tilt Poker was operating against Alderney legislation.

The suspension has put 700 jobs in jeopardy in Full Tilt Poker’s Cherrywood, Dublin, operations. Services were also pulled from its website.

Full Tilt Poker’s US operations were removed after its CEO Ray Bitay was one of 11 charged for illegal online gambling and bank fraud.