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It's Official: PokerStars Will Buy Full Tilt Poker!

Tags: doj, full tilt poker, pokerstars, u.s. department of justiuce.
Posted on 01 August 2012 by "T".

Yesterday, PokerStars finally confirmed that it has reached an settlement with the U.S. Department of Justice (DOJ) to take over Full Tilt Poker. As a part of the settlement agreement, PokerStars has also acquired the assets of Full Tilt Poker.

PokerStars has 3 years to pay USD$547 million to DOJ, and all non-U.S. customers of Full Tilt Poker will get their money back (an amount totaling $USD184 million) within 90 days after PokerStars has transferred $247 million to DOJ (this transfer should be completed within the next 7 days).

The plan is to re-launch Full Tilt Poker in most markets as a separate brand with a new independent management team. Full Tilt's operations will continue to be run from Dublin, but regulatory oversight will be transferred to the Isle of Man. PokerStars has promised to reveal more information on Full Tilt's future plans in the next few days.

"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.

"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."

"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. Full Tilt Poker's customers outside the U.S. can soon look forward to accessing their accounts and playing on the relaunched site, confident that they are supported by PokerStars' history of integrity and our track record of delivering high-quality and secure online poker."

"The way we have operated our business since the U.S. Department of Justice brought its claim has underlined our
credentials as a responsible online poker operator," Scheinberg continued.

"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. We continue to encourage jurisdictions all over the world to introduce sensible online poker regulation."

 


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17 comments on "It''s Official: PokerStars Will Buy Full Tilt Poker!"


 snoggy01/08/2012 08:32:18 GMT
Oh good, I can get my 35cents back. YIPPEE
 remco250401/08/2012 09:09:04 GMT
PokerStars will have 3 years to pay the USD$547 million it costs to complete the deal, and all non-U.S.customers of Full Tilt Poker will get their money back (an amount totaling $USD184 million) within 90 days after this transfer has been completed.

Does this mean it can take up to another 3 years and 90 days before we get our money back ?? Or do i understand it wrong ???
 Neptunus2101/08/2012 09:26:18 GMT
we'll it seems a new start is ahead of us, but still, PS is the king of poker and the only platform that could have competed with them is now theirs. I wonder why couldn't Bernard Tapie group aquire FT
 bullettooth101/08/2012 09:46:00 GMT
Posted by remco2504:
PokerStars will have 3 years to pay the USD$547 million it costs to complete the deal, and all non-U.S.customers of Full Tilt Poker will get their money back (an amount totaling $USD184 million) within 90 days after this transfer has been completed.

Does this mean it can take up to another 3 years and 90 days before we get our money back ?? Or do i understand it wrong ???

yes you understood it wrong. full tilt poker will be back online within 90days and everyone will be paid back by then. all non-US players anyway. its upto the DOJ to pay back the US players when pokerstars give them the $184m to do so.

good luck to all who have money on there and still want to play. i'll be happy to see my $100 again lol. i will defo be playing with it on ftp.
 noonlion01/08/2012 11:00:44 GMT
wow.

I'm glad that's going to be the end of that - it's been the most boring drawn out saga. finally players get their money back - won't be much relief until it actually happens though.
 Fakiry01/08/2012 12:22:11 GMT
33.6% of the Money that PS will pay for aquiring FT is to give away to players. Everyone knows PS is a Money maker machine, but how long will it take to recover this investment? Will people restart playing at FT just because now they know it’s secure? I bet they do. And with U.S. players having access to this action, the recovery from the investment will be fast. After writing this and read it again (i am almost afraid of writing what i want to say next), it almost seems like a big play from PS with U.S. Government, approved by the U.S. DoJ. First they prohibited online poker activity in USA. Then they found FT scheme and finnished it. Now, a trusty company appears to turn everything back to normal with the approval of the authorities.
Everyone can see FT will give lots of Money to the owners, so why didn’t the US Government nacionalized FT? Ok, they won half a billion, but they could be guaranteing a lot more if FT was open as U.S. property, it would be huge monthly income entering in U.S. safes.
 ayaraled01/08/2012 14:31:03 GMT
its going to be a brand new FT...hope they keep freerolls and daily dollar tournaments....90 days to go..ahhhh..back to FT again...will i get my money back...its not that big though can start a roll at micro...
 pochui01/08/2012 18:00:01 GMT
great to here that something is happening officially- this can only be good imho. really missed full tilt with their great unique software, will be interesting to see if they can regain their honorable second place behind stars in terms of amount of players- though it will be kinda strange competition- stars will be competing with stars? just branded differently...
 sadamman01/08/2012 20:18:49 GMT
Posted by bullettooth1:
Posted by remco2504:
PokerStars will have 3 years to pay the USD$547 million it costs to complete the deal, and all non-U.S.customers of Full Tilt Poker will get their money back (an amount totaling $USD184 million) within 90 days after this transfer has been completed.

Does this mean it can take up to another 3 years and 90 days before we get our money back ?? Or do i understand it wrong ???

yes you understood it wrong. full tilt poker will be back online within 90days and everyone will be paid back by then. all non-US players anyway. its upto the DOJ to pay back the US players when pokerstars give them the $184m to do so.

good luck to all who have money on there and still want to play. i'll be happy to see my $100 again lol. i will defo be playing with it on ftp.


My understanding was $547 million was for the company plus the debt. The debt was $184m. So they bought the company for $363m. I think that's right. Confused They have 90 days to pay the $184m to the players owed. Plus 3 years to pay the remaining $363m
 Greenmohave01/08/2012 21:06:36 GMT
I jus hope this all comes together so I can get back to some good poker playing. The variety of games, RUSH poker and the overall software is so much better then any I've used since "Black Friday". Maybe I'm just partial or FT just spoiled me, but Carbon Poker, Cake or even PS doesn't compare to FT. Sorry, but that's my opinion and about 63 more of us just from this area feel the same. Based on that I think there's probably a lot more.
 kinogomes02/08/2012 08:41:36 GMT
PS Laudering money machine!! what iif they lower the rake to make players happy???
 nipitiri303/08/2012 04:10:15 GMT
i wonder if full tilt will be legal in estonia same as pokerstars (pokerstars is one of very few what are legal)
 mocoteo03/08/2012 06:19:19 GMT
I hope that small amount of money that i'll had on FT will be transfered in my pokerstars account!
 Macubaas03/08/2012 06:46:55 GMT
I wish that they will keep all the promotions that were on full tilt at the moment...

The software was the best there but the platform was also great due to it's promo, especially the 27% rakeback deal!
 kwasac11/08/2012 02:18:18 GMT
Great news! They once more proved that they are leaders of poker industry!
 Mucking27/08/2012 00:06:53 GMT
Sucks!

They wont apply for a Dansih license. so we cant play there when the open again.
But nvm. As long as im getting my $60 back im happy Smile

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