A Slightly Lifted Veil Still Offers No Clear View
So Full Tilt Poker put out a statement yesterday. Great. Nice to see them provide some facts – things like how much money was tied up with the DOJ and a large theft by a payment processor. There have been some people kicking the tires on the investment front but nobody has bought in. Still not licensed to operate.
In other words, nothing has changed.
The longer this process drags on the less value the Full Tilt name and player base have. The software will continue to have some value for a while and the Rush Poker patent is worth something, but at some point it will become silly to expect an investor to inject enough cash to cover the balances owed to players.
While I don’t think that anyone is comforted by the statement it is a positive that it was released. There has been an awful lot of frustration vented over the lack of communication. Hopefully in any future lockup agreements FTP can retain the right to provide regular updates.
On the legislative side of things I haven’t been paying much attention. I hold little optimism that our ‘elected’ officials and their unelected bureaucratic minions will ever allow internet poker on reasonable terms.