Full Tilt Poker Pays Overdue Licensing Fees to AGCC

Full Tilt Poker has paid approximately $410,000 to the Alderney Gambling Control Commission, thereby catching up on their overdue licensing fee payments to the AGCC. The overdue payments were first brought to light during the AGCC hearings about the Full Tilt situation held in London last month.

According to FTP attorney Martin Heslop, the payments weren’t made immediately because FTP believed it was unlikely to have their license reinstated. The fact that the beleaguered online poker room has chosen to pay these fees may signal their belief that they can regain their license.

According to the AGCC, the move is likely to help FTP’s players, many of whom have significant balances tied up in accounts they cannot access.

“The recent payment of overdue license fees by FTP is also in players’ best interests since it allows commercial negotiations to take place that might result in a successful refinancing deal,” the AGCC said in a statement. “Further details regarding the exact date and venue of the next hearing will be announced as soon as possible.”

The AGCC has allowed Full Tilt Poker to have until September 15^th, after which their hearings will continue. The delay was granted to give FTP a chance to complete a potential investment deal that could inject much needed cash into the company. While rumors have circulated about a potential deal with a group of European investors, few details have emerged about the investors or the nature of the agreement.

According to the AGCC, Full Tilt’s license is still suspended, but is also considered valid, at least until the hearing resumes. All further hearings between the two parties are expected to be held in private.

Full Tilt has seen its reputation slowly whittled away over the last few months. The first major hit came after Black Friday, when the site failed to promptly repay American players after PokerStars was able to do so almost immediately. The June 29 decision of the AGCC to suspend their license effectively shut the site down worldwide; the site has not been active in the month and a half since.