GBT extends deal deadline with FTP
Groupe Bernard Tapie lawyer confirms "positive progress" has been made.
Groupe Bernard Tapie has agreed with Full Tilt Poker to let its negotiations over the acquisition of the operator run for longer than first planned.
Speaking to affiliate site PokerStrategy, GBT lawyer Behnam Dayanim explained that “positive progress” has been made on the deal, adding that he expects it to be executed “Over the next several weeks” and that the tentative deadline of the end of February had been extended.
GBT first inked an acquisition agreement with FTP in September last year, before arriving at an agreement for the transfer of the operator’s assets three months later.
However the takeover is yet to be completed, with Dayanim revealing earlier this month that several poker players owed money to Full Tilt to the tune of close to US$20m between them.
While talks with some players have been productive, Dayanim explained that “Others have continued to remain recalcitrant, but we’re hopeful that we will be able to achieve sufficient critical mass on all of the outstanding issues that will be able to make the deal work.”
The group has applied for an operating licence in the newly regulating Spanish market and is expected to hear whether or not it has been successful in late March or early April.
It is also believed to have been in exploratory talks with the Alderney Gambling Control Commission over the possibility of relaunching in the jurisdiction which revoked three of Full Tilt’s four operating licences in September last year.
Groupe Bernard Tapie principal Laurent Tapie (pictured) recently told eGaming Review that FTP software could be used for the inaugural event of his International Stadiums Poker Tour this year if the takeover is completed in time.