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PokerStars Announces Plan for Relaunch of Full Tilt Poker and Payment of Non-U.S. Players

Full Tilt Poker Repayment and Relaunch

On Monday, PokerStars revealed its plan to repay $184 million to former Full Tilt Poker customers who live outside of the United States. It was also announced that FullTiltPoker.com will relaunch during the first week of November.

On Aug. 9, 16 months after online poker's big three were indicted by the U.S. Department of Justice, PokerStars closed on a deal to acquire Full Tilt Poker for $731 million. As a part of the deal with the U.S. Department of Justice, PokerStars agreed to make available all outstanding balances — totaling $184 million — owed to non-U.S. customers who had their money frozen on Full Tilt Poker.

PokerStars has been working with regulators in various jurisdictions to make sure that the repayment process follows local regulatory requirements. The repayment process varies in different jurisdictions.

Full Tilt Poker customers living in France, Spain, Denmark, Estonia, and Belgium will be repaid through the locally licensed PokerStars platform. Players will “pair” a PokerStars account with their Full Tilt account, and then can either withdraw or use their balances on the licensed PokerStars site.

In Italy, PokerStars is continuing to work with regulators, and the details will be announced as soon as possible.

In all other markets (except the United States), Full Tilt Poker customers will have full access to their accounts when FullTiltPoker.com relaunches.

As part of the agreement with the U.S. Department of Justice, PokerStars paid $547 million to the U.S. Government, part of which will be distributed to U.S. customers.

The repayment of U.S. players who had funds stuck on Full Tilt Poker will be administered by the U.S. government. Details of the process have not been made available at this time.

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Comments

  • Tom_0309 Tom_0309

    You might be better off worrying more about the I.R.S. slamming you with a W2G for any INDIVIDUAL tournament/S&G wins of at least $1200. Maybe they'll get the authority to do such a thing by making any adoption of a Federal Online Poker Bill retroactive to 1/1/2006? Time will tell.

  • scrappyb scrappyb

    After the sites relaunched, a big question for me is.....Will there be some form of interest that has acruded on players Full Tilt balances? Assuming this would only be fair for all of us that have had money locked away for the past 20 months. Reguardless I'm skeptical on being a US player on how the goverment plans on paying us back with OUR own money. Are we going to be taxed? Will the greed of our goverment come into play and screw us over? These are the concerns I have and I am very anxious to see the outcome, let alone get my money back.

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