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Gambling.co.uk: Gambling News Archive

Alderney revokes Full Tilt Poker licences

Regulator retracts accreditations held by Vantage Limited, Filco Limited and Oxalic Limited after finding that the domain had ‘fundamentally misled’ investigators over its ‘operational integrity’.

Thursday 29th September 2011



Following a six-day private hearing held in London, the Alderney Gambling Control Commission has announced that it has revoked with immediate effect the three licences it granted to under-fire online poker site Full Tilt Poker. The regulator revealed that its tribunal rescinded licences held by Vantage Limited, Filco Limited and Oxalic Limited trading as Full Tilt Poker after examinations revealed that the domain had ‘fundamentally misled’ investigators regarding its ‘operational integrity’. “At a hearing held in London over six days, it emerged that Full Tilt Poker had fundamentally misled the Alderney Gambling Control Commission about its operational integrity by continuously reporting as liquid funds balances that had been covertly seized or restrained by US authorities or that were otherwise not actually available to the operator,” read a statement from the Alderney Gambling Control Commission. “Serious breaches of Alderney Gambling Control Commission regulations include false reporting, unauthorised provision of credit and failure to report material events.” The regulator initially suspended Full Tilt Poker licences on June 29 following indictments from the US Department of Justice and the site's ‘subsequent failure to satisfy the Alderney Gambling Control Commission that its activities inside and outside the US were in order’. At a consequent hearing into the matter on July 26, Full Tilt Poker requested more time after declaring that it was seeking additional investment from outside parties and was given 54 days. In addition to today’s revocations’, the Alderney gambling Control Commission revealed that the licence of Orinic Limited, which is a recently added geographic sub-division of the poker room at Full Tilt Poker, remains suspended. “It is important to note that the revocation of Full Tilt Poker’s licences does not, as has been suggested, prevent a reactivation of the business under new ownership and management,” read the statement from the Alderney Gambling Control Commission. “Unresolved claims by players against Full Tilt Poker become a matter for the police and civil authorities. Now that Full Tilt Poker licences have been revoked, the Alderney Gambling Control Commission no longer has jurisdiction over these companies.”




Source: OnlineCasinoNews

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