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LA Times: Full Tilt bought by European investors

According to the LA Times, Full Tilt has signed a deal with European investors to sell a majority share in the company for an estimated amount of $150 million. This would give them exactly the funds needed to repay their outstanding debts to US players.

The money is also intended to help with a settlement with the Department of Justice. It was only just yesterday that Full Tilt’s license was withdrawn by the Alderney Gambling Control Commission.

Phil Ivey was seen last week in Ireland, presumably for talks with stakeholders (what else do you need to over there ). According to his attorney David Chesnoff, Ivey will withdraw his lawsuit against Full Tilt: “Mr. Ivey intends to dismiss his lawsuit as he believes Full Tilt is taking steps to see that the players are paid,” said mr. Chesnoff to the L.A. Times.