Poker Stars Settles with the DOJ and takes over Full Tilt
Poker players from the U.S and around the world have been
waiting for a glimmer of hope that their funds at Full Tilt Poker
will be paid. Now it is almost an absolute certainty
that international players will be paid in full by Poker Stars.
Players from the U.S. will need to make a reimbursement
claim from the DOJ.
In total Poker Stars will pay $731 million. $184 million will be used to pay back international players and $547 million to the DOJ. International players are to be paid in full within 90 days of this agreement. This is great news for all online poker players. The introduction of new capital is always a good thing for the online poker community. There is also a chance (small chance), that the DOJ will use some of the recovered funds to pay back the players with funds stuck at Absolute Poker and UB.com.
PokerStars will be running Full Tilt Poker as a separate poker room and will continue to offer the same Full Tilt software. Players from the United States as well as France, Italy, Spain, Denmark, Belgium and Estonia, will no longer be able to play at Full Tilt. Players from the U.S will be getting their bankrolls from the U.S government. Poker Stars is working on a solution to pay back the players from France, Italy, Spain, Denmark, Belgium and Estonia within 90 days. The rest of the world will be able to withdraw their bankrolls with no play through restrictions using the same withdrawal methods available at Pokerstars.
Additional links about this news can be found below.
PokerStars Will Pay $731 Million To Settle U.S. Government Charges and Buy Full Tilt Poker (Forbes)
PokerStars Acquires Full Tilt Poker Assets, DOJ Agreement Complete (Diamond Flush Poker)
Key Points of the PokerStars / DoJ Deal + What’s Next for Full Tilt (Online Poker Report)
The Big Question For Full Tilt's U.S. Players: Will They Get Their Poker Winnings Back? (Forbes)
Official PokerStars announcement regarding FTP and DoJ (twoplustwo)