When and if acquisition talks between Groupe Bernard Tapie and Full Tilt Poker are completed, Tapie lawyer Behnam Dayanim told PocketFives.com that it “makes sense from an efficiency perspective” for the site to reapply for a gaming license from the Alderney Gambling Control Commission (AGCC). Remember, the AGCC revoked Full Tilt Poker’s license in recent weeks on the grounds that the poker room “misled” it.

Dayanim told PocketFives.com in an exclusive interview this week, “Full Tilt Poker had a primary license with Alderney and still has a secondary license with the KGC. It makes sense from an efficiency perspective to continue those relationships. It would be our hope that under new ownership, we could have our AGCC license reinstated and continue our KGC license.” Full Tilt has a secondary license from the KGC, which is based in Canada.

Talks between Tapie and Full Tilt have continued in recent daysin spite of reports that they were nearly dead. Dayanim explained, “We are focused on trying to effectuate some kind of transaction that will allow Full Tilt to continue forward as a viable European-facing entity as quickly as possible.” Full Tilt is bleeding cash month by month while it remains shuttered and, to that end, Tapie’s counsel noted, “We’re conscious of the fact that Full Tilt isn’t doing business. No company can sit idle forever.”

A sale of Full Tilt could include players receiving equityin a revitalized site in lieu of larger cashouts. In addition, existing Full Tilt Poker stakeholders could contribute money to minimize Tapie’s cash outlay, although many in the industry have taken exception to that concept. Dayanim addressed their concerns: “What is clear, and is not up for debate, is that to the extent there is any interest from former owners, it would be a minority or passive interest. There would be no continued involvement or oversight.”

On how much cash Tapie is willing to put forth in order to repay players and acquire Full Tilt, PocketFives.com was told, “The current arrangement with the company calls for the Tapie group to provide the lion’s share of the funding necessary for the rebooting of the site. How much money is required to accomplish which objective depends on discussions with the DOJ and regulatory authorities.” The DOJ has slapped hefty civil penalties on each poker room indicted on Black Friday.

Also up for debate is the future of Full Tilt’s brand name, which is now associated with the term “Ponzi scheme” after the Department of Justice labeled it as such last month. Although Tapie officials have expressed a desire to keep the Full Tilt brand name alive, Dayanim argued, “Anything is possible. I do believe that the Tapie group sees value in the brand. If the company is restored and people are confident that it’s being operated in a transparent way and players receive reimbursements, they’ll return to the site to play.”

Meanwhile, a handful of class-action lawsuits have been filed against Full Tilt, including one involving Todd tbt4653Terry. While the suits were originally believed to be obstacles to a sale, Dayanim asserted, “The way we view those, generally, is that they’re seeking reimbursements to players. One of the considerations that we’re actively trying to work through is how to arrange for the repayment of players.” Therefore, the main point of each suit – players not being paid back – may not exist once a sale is completed. Read more.

Could we see a purchase of Full Tilt that does not involve player refunds? Would an interested buyer simply purchase the software and patents for games like Rush Poker and ignore the nearly $400 million owed to customers? Dayanim responded, “The current proposed deal would involve repayment of players. It’s Tapie’s intention to arrange for repayment of players.”

We’ll keep you posted on the latest on Full Tilt Poker right here on PocketFives.com. In the meantime, check out these related articles:

Full Tilt Sale Talks with Groupe Bernard Tapie Not Dead Yet
Full Tilt May Give Players Equity, Receive Cash from Current Owners
Full Tilt Poker Buyer Meets with U.S. Department of Justice
Canadian Law Firm Files Class-Action Suit Against Full Tilt Poker