What many people have been waiting for, for almost a year has finally been confirmed. PokerStars is acquiring Full Tilt Poker and will relaunch the site. And all the money that Full Tilt players have had outstanding will be repaid.
PokerStars reached earlier this week an agreement with the Department of Justice to take over Full Tilt Poker. Over the next three years, PokerStars will pay back $547 million to the U.S. government to pay back the debt that Full Tilt left behind in 2011. Some of this money represents money that is required for players in the US. And PokerStars has set aside $184 million to pay off all non U.S. players from Full Tilt Poker.
According to a statement from PokerStars, the money will be available 90 days after the deal is finalised that will happen within the next 7 days. And it will be completely finalised when the American deparment of Justice has received a payment of $225 million.
If everything goes as planned, all players from Full Tilt Poker will be able to withdraw their money which has been locked for almost a year and also play at Full Tilt.
Aug 03 2012