Recent rumors regarding PokerStars acquisition of Full Tilt Poker have left poker enthusiasts hopeful that all will be well soon. However, considering the current political climate, this path is not a cakewalk. The Full Tilt Saga might be far from over, and here is why –
While Full Tilt Poker and all other poker sites closed down following Black Friday; fellow poker site PokerStars awaited a similar fate, and moved to the European market. However, rumor has it that PokerStars is willing to buy out Full Tilt Poker, and the Justice Department will broker it.
The deal would not only end the Full Tilt Saga, but would also give PokerStars the chance to legalize its American subsidiary.
Full Tilt Poker has been in the news many times in the past year and a half. The case feels more like a fat trilogy waiting to unravel, than a defunct company that owes millions in debt. It would certainly scramble the dark clouds hovering over the poker world, if only there were finality to Full Tilt Poker’s story. An end to this miserable story, would not only give the players back their money, but would also significantly increase player pools. Either way, if-and-when the chapter does close, the poker community can definitely heave a sigh of relief, after holding their breaths for almost two-years.
The United States Justice Department can help in brokering any deal between PokerStars and Full Tilt Poker. This would not only put an end to the debt crisis, but would absolve them from federal prosecution. However, a point to be noted here is that; the Justice Department has no-say whatsoever in the States’ decision to allow PokerStars to operate.
Each gambling state has its own state government deciding the operation of online poker platforms. In those states with the highest gambling revenue, Caesars (Harrahs) controls most of the gambling. It is quite clear, that under the circumstances, Caesars will not stand and watch PokerStars gain ground once again, in a time when the US government is softening its stance against online gambling. This multi-billion dollar industry is predicted to grow exponentially in the coming years.
With plenty of fish to catch, Caesars will weigh having a US PokerStars as a competitor against having non-US PokerStars as a competitor. In case of the latter, Caesars will definitely dominate. The main reason with the deal is to pay off the debts owed to players. However, considering the present circumstances, the deal seems to have plenty of loose ends.