Full Tilt Hearing To Be Closed To PublicPublished September 19, 2011 by OCR Editor
AGCC executive director calls his commission’s decision ‘disappointing’.
The AGCC said in a press statement that it commission forming the tribunal on FTP have decided to hold the hearing 'in camera'. It said it reached the decision following a pre-hearing application by Full Tilt Poker to adjourn the meeting again.
AGCC Executive Director Andre Wilsenachsaid he was pleased the hearing would go ahead as scheduled, but added that he was "disappointed" by the tribunal's decision to hold the hearing in private. He said the public has a right to know the reasoning behind the decision to suspend FTP's licenses and to hear all the evidence.
FullTiltPoker.com had its license suspended by the gaming commission on June 29 following the indictment of company officials in the US on April, also known as "Black Friday", over alleged violation of local gambling laws.
FTP issues statement
After a long period of silence, Full Tilt Poker finally issued a new statement to PokerStrategy.com in which it explained the financial issues it is facing, and said owner Pocket Kings would launch a cost optimization program of around 12 million euros, which would include laying off as many as 250 employees to cut costs.
Notwithstanding this, it said, "Pocket Kings firmly believes it has a very strong future in Full Tilt Poker's non-US markets, and is fully committed to ensuring Full Tilt Poker restores the site and repays players in full...The company is in active discussions with several parties and will provide a further statement in due course."