AGCC Application of FTP Subsidiary Withdrawn
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The application by Orinic Limited for a category 2 gaming license in Alderney has been withdrawn, according to a statement from the Alderney Gaming Control Commission (AGCC).
Orinic, one of the many companies that together operated as Full Tilt Poker, applied for a full license to operate online gaming with the AGCC earlier this month. It was the only business to escape revocation of its license following the closure of Full Tilt Poker.
The public hearing to review the application, scheduled for next week, has been cancelled. It was understood that public objections to the application were going to be heard.
The announcement comes after confirmation that Groupe Bernard Tapie has finally terminated talks with FTP and the DOJ to acquire the poker room. The French investment group had already opened companies named New Full Tilt and had begun hiring stuff in preparation for relaunch. The firm claims the deal fell through “at the 11th hour.”
It is understood that, after eight months of exclusive talks, PokerStars has now entered into an agreement to acquire the company, repay all players and settle outstanding legal issues. No official confirmation from the parties has yet been released.
Full statement follows: