Full Tilt Pays AGCC

The Alderney Gaming Control Commission (AGCC) announced that Full Tilt has paid back the £250,000 owed in licensing fees.
1165 6th August, 2011 The Full Tilt Saga
Full Tilt Pays AGCC

The Alderney Gaming Control Commission (AGCC) announced that Full Tilt has paid back the £250,000 owed in licensing fees.

In a statement the AGCC said: "The recent payment of overdue licence 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. Further details regarding the exact date and venue of the next hearing will be announced as soon as possible."

The £250,000 owed in licensing fees was first made public at the regulatory hearing in London on July 26, which was scheduled to address the AGCC’s decision to suspend Full Tilt’s operating licenses. Full Tilt’s lawyers—Martin Heslop, Tony Coles and Nick Nocton from Jeffrey Green Russell—used the payment as leverage to take the hearing private.  

The AGCC also announced in the statement that it "imposed a condition that requires the licensees comprising FTP to arrange for the ring-fencing of identified players’ funds under their control." However, it is unclear when this condition was imposed or if Full Tilt has met the regulatory body’s demands.

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