Add lack of cash to Full Tilt woes

Apr 26, 2011 6:00 AM

Full Tilt Poker, the online poker operator that with two competitors – PokerStars and Absolute – was indicted by the U.S. Justice Department last week, may be having a cash flow problem.

According to a story in the London Telegraph newspaper, a TV production company stopped filming a poker tournament in Cardiff, Wales, when Full Tilt Poker sponsored players failed to receive their entry fees.

The story indicated that poker TV personality Erick Lindgren and five other Full Tilt Poker-sponsored players failed to ante their $20,000 entrance fee for the tournament.

Megan Stuart, representing the television filming company, was quoted as saying, "The money hadn’t come through for some of the players, basically the Full Tilt ones. We would have been staging the tournament under false pretences had we carried on."

The move reportedly sent alarm bells ringing in Dublin, Ireland, where the Full Tilt parent company employs a staff of 700 people.

When questioned about efforts taken by the Justice Department to expedite the return of funds held on deposit by Internet poker players in the U.S., Full Tilt issued a statement saying that problems remain.

"Unfortunately," said Full Tilt, "there remain significant practical and legal impediments to returning funds to players in the immediate future. Full Tilt Poker has no accounting of the millions of dollars of player funds that were seized by the government."