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Bust online poker company relocates to the Isle of Man

An online poker company which went bust in 2011, leaving players £115m out of pocket, is to relocate from Alderney to the Isle of Man.

Full Tilt Poker has since been taken over by Isle of Man based PokerStars, which has agreed to pay the outstanding player liabilities in full.

The deal will see PokerStars acquire the Full Tilt Poker brand and its software and install new management.

Around 50 e-gaming companies are currently licensed in the Isle of Man.

Full Tilt Poker will start trading on 6 November after receiving a license from the Isle of Man's Gambling Supervision Commission.

Steve Brennan, CEO of the Isle of Man Gambling Supervision Commission, said it was "confident that Full Tilt Poker will safeguard the interests of its players and adhere to the strict policies and procedures governing Isle of Man licensed gaming companies".

Both PokerStars and Full Tilt Poker along with Absolute Poker were closed in 2011 and hit with civil money laundering charges.

Criminal charges were brought against executives and payment processors.

Full Tilt Poker was previously regulated by the Alderney Gambling Control Commission, which stripped the online poker site of its operating licence in June.

From BBC News
http://www.bbc.co.uk/news/world-eur...of-man-19897451