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Full Tilt To Axe Staff And Keep AGCC Hearing Private

Full Tilt Poker‘s licence hearing with the Alderney Gambling Control Commission (AGCC) is set to resume on Monday, 19th September.

Ahead of the upcoming meeting, Full Tilt has chosen to release a statement which has done nothing to allay the concerns of its thousands of customers with accounts frozen on the beleaguered poker room.

Further highlighting the financial difficulties facing the online site, Full Tilt has now stated that it needs to reduce its costs by around €12m by making more than 250 of its staff redundant. Those employees currently facing the axe would appear to be based at the Pocket Kings office in Cherrywood, Dublin, and according to Full Tilt’s statement:

“This [cost optimization] program is intended to streamline the company’s operations in order to better position itself for future growth and profitability in Full Tilt Poker’s markets outside of the U.S.”

Despite the poker room then going on to say that it was still in “active discussions with several parties” concerning investing in the company, Full Tilt’s stated optimism regarding its future prospects was not well received by its frustrated customers. There would seem to be concern that Full Tilt may be trying to extract as much money from the company before eventually declaring Chapter 11 bankruptcy.

In further related news today, it has been announced that Monday’s AGCC hearing will  be completely held in private in accordance with Full Tilt’s previous request. Keeping its hapless customers in the dark will now surely add further to their frustration, and as AGCC executive director André Wilsenach commented:

“I am pleased that the FTP hearing will continue as scheduled, as was argued on my behalf. However, I am disappointed with the tribunal’s decision that, notwithstanding my arguments to the contrary, the hearing will be held in private. I believe the public has a right to know the reasoning behind the decisions to suspend FTP’s licences and call a hearing, and to hear the evidence that will be put forward on my behalf.”

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