Here is the announcement from the AGCC in full:

AGCC Commissioners, sitting as a tribunal, have today revoked the licences of Vantage Limited, Filco Limited and Oxalic Limited, trading as Full Tilt Poker (FTP), with immediate effect.  This follows the earlier suspension of the licences on 29th June 2011.

At a hearing held in London over six days, it emerged that FTP had fundamentally misled AGCC about their operational integrity by continuously reporting as liquid funds balances that had been covertly seized or restrained by US authorities, or that were otherwise not actually available to the operator.  Serious breaches of AGCC regulations include false reporting, unauthorised provision of credit, and failure to report material events.

At the commencement of these proceedings on 26th July, AGCC made clear its preference to hold the hearing in public, to the benefit of players and media alike. However, the tribunal was persuaded that the hearing should be held in camera on the basis of claims by FTP that this would maximise the chance of a commercial rescue of the business for the benefit of players. For this reason an adjournment of 54 days was allowed.

It is important to note that the revocation of FTP’s licences does not, as has been suggested, prevent a reactivation of the business under new ownership and management. Unresolved claims by players against FTP become a matter for the police and civil authorities. Now that FTP’s licences have been revoked, AGCC no longer has jurisdiction over these companies.

The licence of Orinic Limited, a recently added geographic sub-division of the FTP poker room, remains suspended.
The determination notice containing the decision of the Commissioners and reasons for it is available at

http://www.gamblingcontrol.org/userfiles/file/Determination%20Notice%20290911.pdf

What this means for the players who are still trying to extract their funds from FTP is as yet unknown, but it certainly isn't looking good...

What this means, for now, is that Full Tilt must not:

1. Allow new customers to register with the site
2. Accept deposits
3. Allow existing customers to withdraw funds that are held in their account
4. Permit customers to participate in any form of poker game play or gambling transaction.

Number 4 being the big one just now. CalvinAyre.com managed to grab the below screenshot that was presented to poker clients trying to withdraw earlier today:

And it's not going to change for the players any time soon, considering the press release continues on to say:

Due to the nature of the forthcoming judicial proceedings no further comment can be made at this time. The regulatory hearing will be held on Tuesday 26 July 2011 in London.

Will the Gambling Commission on the Isle of Man now take a deeper look at PokerStars following this? PokerStars are a pretty big employer on the Island, so I'm sure they're already in deep conversations with the Gaming Commission to resolve any issues following Black Friday. It will certainly be interesting to see how that side develops!

Update: Isle of Man Gambling Commission Statement Released

This evening, the Gambling Supervision Commission on the Isle of Man released a statement confirming that PokerStars were operating within the boundaries of their license which:

remains unchanged following today's statement from the Gambling Control Commission in Alderney.

More information can be found here: http://www.gov.im/gambling/

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