More Words from Full Tilt Ahead of Private AGCC Hearing More Words from Full Tilt Ahead of Private AGCC Hearing

Full Tilt Poker issued another statement on Wednesday in which it states it has adopted a “cost optimization program” to reduce costs and “streamline the company’s operations” in a hopes to be in a position to re-enter the non-US poker market.

It claims that, if it were to achieve its goal of €12m reduction in costs through redundancies, “approximately 250 positions could be affected.”

Otherwise, new information is thin on the ground. It claims to have retained financial advisors Sea Port Group Securities to help in finding investment or “a strategic partner” to fund the continued operations of the poker room and help to repay its players. It is estimated that Full Tilt owes at least $150m to both US and non-US players.

The Alderney Gambling Control Commission (AGCC) today announced that the second hearing would be held in private. Scheduled for Monday, the hearing was to disclose the reasons for the AGCC suspending Full Tilt’s license that took the poker room offline. The first hearing held in July was postponed to a later date to allow Full Tilt time to pursue investment possibilities.