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In addition, within ninety days PokerStars will make available for immediate cash withdrawal or play, the account balances for all of Full Tilt Poker’s non-U.S. players will have an opportunity to request that they be compensated out of those funds for their losses. Under the terms of the agreement, PokerStars will pay a substantial amount of money to the United States, and the government has agreed that all U.S. The agreement ends the company’s civil forfeiture proceedings with the U.S. We continue to encourage jurisdictions all over the world to introduce sensible online poker regulation.”įULL TILT POKER CONCLUDES TRANSACTION WITH POKERSTARS AND UNITED STATES DEPARTMENT OF JUSTICEĪgreement Ends Civil Forfeiture Proceedings and Includes Payment For All Playersĭublin – J– Full Tilt Poker is very pleased to announce the conclusion of a three-way transaction with PokerStars and the United States Department of Justice which will result in all of FTP’s US players having the opportunity to be paid. “In particular, the prompt repayment of our former US customers in as quick a time frame as possible demonstrated our industry-leading commitment to the segregation of customer funds. Department of Justice brought its claim has underlined our credentials as a responsible online poker operator,” Scheinberg continued. “The way we have operated our business since the U.S. can soon look forward to accessing their accounts and playing on the re-launched site, confident that they are supported by PokerStars’ history of integrity and our track record of delivering high-quality and secure online poker.” Full Tilt Poker’s customers outside the U.S.
“Acquiring certain assets of Full Tilt Poker strengthens PokerStars, brings welcome relief to Full Tilt Poker players who have been waiting over 12 months for repayment of their money, and benefits the entire poker community. “This outcome demonstrates our continuing global leadership of the online poker industry, and our commitment to working with governments and regulators to ensure the highest standards of protection for players.” “We are delighted we have been able to put this matter behind us, and also secured our ability to operate in the United States of America whenever the regulations allow,” said Mark Scheinberg, Chairman of the Board of PokerStars. Further details of these plans will be announced shortly. Full Tilt Poker’s operations will continue to be run from Dublin, but regulatory oversight will be transferred to the Isle of Man. PokerStars plans to re-launch Full Tilt Poker in most markets as a separate brand, following the appointment of a new, independent management team. gaming authorities, under both PokerStars and Full Tilt Poker brands, to offer real money online poker when State or Federal governments introduce a framework to regulate such activity. Furthermore, the agreement explicitly permits PokerStars to apply to relevant U.S. Under the agreement with the Department of Justice, PokerStars does not admit to any wrongdoing. players, with all its licenses in good standing, without interruptions. PokerStars has remained open for non-U.S. customers of Full Tilt Poker (an amount totalling USD$184 million), with no restrictions on withdrawals, within 90 days of completing this transaction. PokerStars will also make available in a segregated bank account, all outstanding balances owing to all non-U.S. customers shortly after it closed its U.S. PokerStars repaid all amounts owing to its own U.S. The money paid to the US Government will in part be used to reimburse former Full Tilt Poker customers in the United States, through a remission process to be administered by the Department of Justice. The total amount to be paid by PokerStars is USD$547 million which will be payable over a period of three years.
As part of the settlement agreement, PokerStars has also acquired the assets of Full Tilt Poker, and has committed to the full reimbursement of Full Tilt Poker customers outside the United States. Department of Justice (DOJ) Southern District of New York. ONCHAN, ISLE OF MAN – J– PokerStars today announced that the Company has reached a settlement with the U.S.
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