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Updated: 9th November 2015 Written by / Poker News

PokerStars buys Full Tilt Poker Announcement end of May 2012The latest Full Tilt Poker news update regarding PokerStars buying FullTilt is IGaming post recently reported that following a US court hearing between Full Tilt Poker, PokerStars and the DOJ.

The parties involved are set to make an announcement some time during the last week of May 2012, which should contain a schedule for repayment of all Fulltilt Poker USA players and those from the rest of the world.

Both Isai Scheinberg the owner of PokerStars and Paul Tate Director of Payments may be expected to vacate their positions at PokerStars as part of the deal.

The deal reached by PokerStars buying FullTilt Poker will be fully approved by the USA DOJ who are then expected to announce that both PokerStars and Full Tilt Poker will be allowed to apply for licenses in the USA once poker is legal in America.

There are also rumors circulating that Wynn may have a part to play in the Full Tilt Poker deal.

PokerStars must be pleased with the outcome of their dealings with the DOJ and even more so that no prejudice will be held against them when applying for a license in the USA sometime in the future.

PokerStars Full Tilt Poker Deal

Hopefully the purchase of FullTilt Poker by PokerStars will see all outstanding balances paid off in a timely manor and that we get to see the former number two online poker room Full Tilt Poker open and back online.

One imagines that the stakes for licensing of online poker in the USA must be high with all the land based operations wanting to get in early and establishing their piece of pie in the online poker market.

The interest by the land based casino groups can be seen by recent negotiations between Wynn and Zynga poker, BWin Party with MGM Resorts / Boyd Gaming and Trump with 888.

The most important first step we would like to see is Full Tilt Poker players being repaid then the reopening of Full Tilt Poker. I personally am not crazy about PokerStars taking over Full Tilt and would have preferred GBT to have ownership rights, but I guess PokerStars are safe and secure.

My main issue is that PokerStars will have a monopoly on the industry with little to no competition.

I for one hope that PartyPoker will once again soar when licensing in the USA becomes legislated, the PartyPoker brand has kept their nose clean for years and have been anticipating their relaunch in the USA once it becomes legal to play poker in America again. PartyPoker are still a very well recognized brand in the USA despite being shut out of the US online poker market since the first UIGEA back in the days when George W Bush was still president of America.

We have all been waiting so long for this deal to finally happen, lets hope we can all rejoice after the expected announcement, only one week to go.

Sources:

PokerStars Full Tilt Poker announcement end of May

PokerStars Full Tilt Takeover

Wynn with PokerStars / Full-Tilt-Poker



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