Full Tilt Poker CEO arrested by FBI

In breaking casino related news released yesterday it would appear that the CEO of Full Tilt Poker has had to turn himself in to the FBI.

This was not a totally unexpected outcome and should serve to hasten the deal between PokerStars and Full Tilt Poker.  Last week another week's extension was requested in order to round up other major players in this case with a view to finally concluding some of the settlement issues that are still outstanding. 

In the report that I read there was a copy of the email that CEO Ray Bitar wrote to his staff expressing gratitude for all their hard work. Also interestingly enough there was a small section written that confirmed all the online poker employees will receive their July salaries. In the email he once again verified that the repayment of all their players is of the highest prioroty and turning himslef in was the best way to go about this.

The gambling industry needs to be regulated and when high profile cases like this are discussed it becomes clear just how badly these regulations are needed. Once this deal has been concluded and all debts are cleared it may work out for the best for US players as this may have a hand in ushering in a new legal and regulated online gambling era, let's hope so.