PokerStars Rescues Full Tilt Poker Customers

PokerStars Rescues Full Tilt Poker CustomersAlready the biggest poker website in the world, online behemoth PokerStars has just bought itself a whole load more goodwill after rescuing its beleaguered rival Full Tilt Poker, not to mention its army of customers who had seen more than $330 million of their funds evaporate on the site last year.
Both PokerStars and Full Tilt had been facing a whole list of charges brought against them by the US Department of Justice related to the “Black Friday” indictments. The latest deal will now clear both their records while also clearing the way for PokerStars and Full Tilt to operate in the US market in the event of online poker being legalized.
The actual $731 million deal involves PokerStars forfeiting $547 million to the US government in return for Full Tilt, while also shelling out a further $184 million to reimburse the money owed by Full Tilt to foreign players. Alternatively, US players will have to contact the DoJ in order to be repaid the money they are owed.
PokerStars must now pay $225 million to the U.S. Government within 6 days after which all charges against PokerStars will be dropped, with the rest of the money paid in installments over the next three years. As PokerStars Chairman of the Board Mark Scheinberg said after the deal was announced:
“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.”
PokerStars now plans to re-launch a separate branded Full Tilt Poker under an independent management team, while allaying any of the past concerns associated with the poker site. As Mark Scheinberg explains:
“Full Tilt Poker’s customers outside 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.”

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