Full Tilt to Re-Launch in November and Funds Expected to be Returned
September 26, 2012
After taking over the Full Tilt Poker entity in a deal with the Department of Justice on August 9th, PokerStars has finally announced their plan to repay the $184 million still owed to former non-US Full Tilt players. Furthermore, the Full Tilt Poker platform is scheduled to re-launch the first week of November.
Since the deal was sealed, a plan to repay the delinquent accounts has been in the works, discussing ways in which to carry out the paybacks with multiple regulators in global jurisdictions. The process is required to follow all local regulatory criteria; thus, the repayment procedure will vary between jurisdictions of individual players. Needless to say, this was a big undertaking but was a requirement of the deal made between PokerStars and the DoJ. Also under the terms of the arrangement, the DoJ would be responsible for repayment of US players.
PokerStars has already enlisted the help of a locally licensed platform to handle repayment in Spain, France, Denmark, Belgium, and Estonia. Players will be able to link their Full Tilt player accounts with a PokerStars account through which they will have access to their funds and be allowed to withdraw or use their balance to play online. Players located in Italy must wait longer, as PokerStars has not yet determined the proper repayment process and is still working with regulators.
When the Full Tilt Poker site re-launches in November, other non-US markets will have full access to their Full Tilt accounts as well. Let’s hope everything goes smoothly and within less than six weeks, forlorn Full Tilt players will be back in business.