Full Tilt Poker Irish Subsidiary Closes Its Doors
Fallout from the events of Black Friday continued to rock the online poker world last week when Full Tilt Poker subsidiary Pocket Kings laid off 180 employees and shut its doors for good. While the news is definitely bad for the individuals losing their jobs, it may actually help the beleaguered online poker company survive to see the next chapter of this ongoing saga.
Luck O’ the Irish?
According to a report in the Irish Times, the layoffs are part of a restructuring process that’s partly the result of a September 29 hearing of the Alderney Gambling Control Commission (AGCC). That hearing an earlier decision to revoke Full Tilt’s gambling license because of revenue reporting discrepancies.
Workers impacted by the layoffs are all based in Dublin where Pocket Kings operates. This subsidiary of the once-giant poker empire handled software development and customer support but when the site shuttered last April and several company executive facing indictments, it’s a little surprising this move didn’t happen sooner.
As recently as February of 2010, the Dublin call center added 100 new employees to handle a boom in business.
Though company officials did not speak with the Irish Times for their article, Pocket Kings employees told reporters that the move was part of a general restructuring.
What It Means for Affiliates
What this all means for affiliates and players who are still waiting to find out the fate of their share of the millions of dollars in Full Tilt funds that were frozen last April when the United States Government shut down the online poker industry in the U.S. is, as yet, unclear.
The revocation of the gambling license opens the way for U.K.-based bettors and affiliates to pursue legal action in civil courts to reclaim their money. But who is actually going to wind up with the money, and how much of it is left, is also a very cloudy issue.
British law enforcement officers are now free to pursue criminal charges against the operators of Full Tilt.
It should be noted that the loss of a gambling license and the shuttering of a call center are not necessarily end game moves. There’s still a possibility the Full Tilt brand could return under new ownership at some point.
What do you think the next move is going to be for Full Tilt and their remaining subsidiaries? Let us know in our Online Gambling Newswire Forum.