FullTilt Poker Sold To European Investor

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The LA times is reporting that FTP has been sold to an European investor. The article makes several unsubstantiated claims including that FTP is sold, and Phil Ivey will drop his lawsuit.

I hope very much this is true, but it is a bit hard to believe.

It is well believed that an investor would want some approval from the US DOJ, and an understanding of what the would want from them. An investor would surly be spooked by the loss of FTP Alderney license, a hard to acquire highly regarded, gambling license.

Some easier issues that a potential investor might want settled is the direction of the Phil Ivey lawsuit, and what it will take to appease him. And of course actually getting the site back online, and having players play.

But the question remains, who would want to buy the battered poker company? Most are speculation PokerStars or the Bwin.Party group, and that makes sense.

The value of FTP is the players lists, ‘rush poker’, the pros under contract and the high quality software. The value of the brand name has taken a huge hit in the last couple months. Another value of the site is the ability to build goodwill. Any company that swoops in and gets the site back up, and pays of players balances will be rewarded with oodles of goodwill from the poker community.

At this point it is just another game of wait and see.