Tuesday, 26 July 2011

Full Tilt Alderney License Hearing Latest

With no noteworthy news coming from the hearing in London on the Alderney / Full Tilt licence discussions, we decided it was time to wildly speculate. While this is nothing new in the world of *ahem* poker journalism, Melted Felt would like to point out that we are unique – being the only site who openly admits we don’t have a clue, erm, every post.

Today’s hearing kicked off with a pre-pre request to have a pre-private discussion about having the meeting in pre-private from Full Tilt’s lawyers. Some soft old arguments about investor sensitivity was brought up at the time. We, dear Melted Felt readers, have a different explanation.

Full Tilt had great software, innovative games and some excellent promotions. Their weak spot was, well, dealing with actual players. You know, those pesky human beings who want to do things like cash out and other sinister stuff like that.

We thus put 2 and 2 together and speculate that the reason for having so much discussion in private is that the new license agreement will be playerless…

This would play to all of Full Tilt’s strengths, allowing them to create some cutting edge online poker – without the downsides like customer service and the manual labor involved having to mail out those really crass Full Tilt themed mouse-pads.

Becoming the world’s first playerless poker site would have many other advantages too. For example FTP could make all accounts 100% rakeback. They would also be immune from future legal actions and legislative changes, and their advertising budget would be miniscule too. A win-win situation, with no winners or losers.

$250k For What, Exactly?

In addition to the request for the remainder of the hearing to be held in Howard Lederer’s Jacuzzi in the hotel ‘honeymoon suite’, we understand that the small matter of an unpaid $250k bill was brought up by Alderney’s reps. This related to the combined equity (using chip count methods, not ICM) of the reps in multi-table tournaments at the time the servers were switched off – plus interest, penalties and the bill for a couple of home improvements for council members.

Full Tilt’s lawyers then apparently asked what part of, “You must be fvcking joking” would Alderney like explaining? Cleverly using what is known as ‘legalize’ wording enquiring about tying this fee to getting their license back.

With only one little known pro storming out, and more adjournments than we can shake a stick at – it seems the only thing to do now is wait for the postponement of the hearing to be officially announced at 3PM UK time.

Stay tuned for another installment.


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