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  • AGCC Releases Incorrect Information on Full Tilt Poker

    Sunday, October 30th, 2011 by Nadia

When the Department of Justice shut down Full Tilt Poker citing illegal operations as the reason, the online poker world was in an uproar. Reports regarding the issue surfaced a little later, and they were dismal. Most of the site’s players had lost money and retrieval of their winnings seemed impossible. This came as a shock to all the professional poker players who played under the banner of the Full Tilt Poker website.

The AGCC’s Incorrect Report

The Alderney Gambling Control Commission (AGCC) announced that it had misreported the amount seized from Full Tilt Poker in June 2007-2011 by the Department of Justice. The commission had reported that approximately $331 million was taken during that time but has now admitted that that approximation was incorrect.

The AGCC said that the amount, $331 million, came from a document which was intended to explain the various violations that Full Tilt Poker had committed. The actual amount was much more than the company had claimed the Department of Justice had seized. Full Tilt claimed, at the time, that approximately $115 million had been appropriated by the government.

The difference of more than $200 million has been the subject of much scrutiny since Full Tilt released their statement. However, the error might be due to any number of accounting mistakes. For their part, the AGCC said that Full Tilt Poker reported funds that were not verifiable due to several issues with its payment processing system. AGCC also failed to audit the poker site and trusted Full Tilt’s accounting department’s report.

Brandon Adams Apologizes for Twitter Comments

Brandon Adams, a former Full Tilt Poker professional, stepped up to defend the website during the aftermath of Black Friday’s events. He tweeted that Full Tilt Poker was run by more honorable people than some of the other sites and that he believed that people’s money was safe there. Since then, Adams has been criticized for his comments by the majority of the poker community. He has admitted to making a mistake and said that he has always written and spoken his views. Most of it has been controversial He stated that he is used to being proven wrong.

Staff at William Hill Protest

Rumors that William Hill’s support center will be relocating from Tel Aviv to Gibraltar or the UK, caused uproar among staff members. Nearly 200 employees walked out and two of the company’s top executives had to fly out to smooth things over. The CEO of William Hill, Ralph Topping, met with the CEO of Playtech, Mor Weizer, to discuss ways to end the walk out. The venture is owned by both companies – William Hill holding 71% and Playtech 29%.

The protests in Tel Aviv have triggered a similar situation in William Hill’s operations in Bulgaria. Playtech’s staff in Manila has also taken up the protest. The cause of the revolt is rumored to be linked to the resignation of Eyal Sanoff, the former Chief Marketing Officer of the company.

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