Full Tilt loses a buyer
Damn you Yahoo, how can you mislead me like that? Well, actually, I can’t blame it all on Yahoo. The supposed Full Tilt buyer was all over the blogosphere early last week. I think Full Tilt was making sure that we all heard the good news - they had a buyer. The French company Groupe Bernard Taipe was going to pull their arses out of the proverbial fire. Then people started taking a closer look at the news and the Groupe Bernard Taipe. Now, it wasn’t that the news wasn’t true. The French company is interested in making an investment in Full Tilt. The problem was that the company wasn’t saying they were will to be the full and only investors involved in pulling the company out of the mess it’s gotten itself into.
Not that I can blame them. Here’s the think — Full Tilt owes about $300 million to players. The Alderney Gambling Control Commission isn’t going to let them resume operation until they can pay that back. So any investor coming in is going to lose $300 million right off the bat. And that’s before they even being getting the messed up poker room in order. Now, Groupe Bernard Taipe does have a sensible approach. If there were enough investors, that would offset the cost per investor and spread out the money crunch. There may be more investors out there. Hey, we know Full Tilt has hinted at them. And we all know that we can trust everything Full Tilt Poker says. Right?