Breaking News - Pokerstars Buys Full Tilt Poker, yes it's finally official. PokerStars have acquired FullTiltPoker assets after reaching a deal with the Department of Justice which includes reimbursing players outside of the USA.
USA players funds will be handled and processed by the U.S. government, players from the rest of the world will have their funds available for withdrawal within 90 days.
PokerStars plan to relaunch the former number 2 poker site as a separate company and maintain segregated accounts ensuring players funds are available for withdrawal at all times.
Until now no official statement was released regarding the Pokerstars Rumor Full Tilt Poker Deal, a detailed PokerStars statement now features on the Full Tilt Poker homepage confirming all the rumors that Pokerstars Buys Full Tilt Poker deal is true.
Pokerstars Buys Full Tilt Poker
Pokerstars Buys Full Tilt Poker and released an official statement on fulltiltpoker.com along with the process of repaying players who have had their Full tilt Poker funds frozen since Black Friday.
As part of its agreement with the U.S. Department of Justice (DOJ), PokerStars has obtained the assets of Full Tilt Poker, and will use these assets to re-launch the Full Tilt Poker site. PokerStars has also committed to the full reimbursement of funds owed to Full Tilt Poker customers outside the United States within 90 days of formal closing of the deal, which will occur within seven days. United States Full Tilt Poker players will be dealt with by the U.S. government.
We will set aside a separate account holding the full amount to cover all outstanding player balances outside of the U.S. and are working diligently to re-open the Full Tilt site as soon as possible. This process will take time as we verify account ownership and balances and work with authorities in the relevant jurisdictions to ensure that we can return funds in an efficient and effective way. Again, our agreement with the DOJ means these funds must be available within 90 days of closing.
Going forward, Full Tilt Poker will maintain a segregated account with more than enough funding to ensure that player funds are full available for use or withdrawal at any time.
Pokerstars Buys Full Tilt Poker
Pokerstars Buys Full Tilt Poker and plan to relaunch the Full Tilt Poker brand to most countries around the world, however the new company will not acquire the licenses to operate in France, Italy, Spain, Denmark, Belgium or Estonia. Instead the company will repay these players and focus their attention on the European market and countries which operate on a global license.
Full tilt Poker will re-open it's doors within 90 days with players funds being available for withdrawal without any restrictions.
Full Tilt Poker US players will no longer be able to play on the site until it is permitted to do so and the correct licensing and regulation are in place and available. The US Government will be handling the reimbursing of Full Tilt Poker US players
The rest of the World will be able to cashout their entire bankroll as soon as the site has relaunched. Players funds can also be used to continue playing on the new Full Tilt Poker which will now operate using segregated accounts ensuring players funds are safe and available for withdrawal at all times.
Full Tilt Poker Cashout options will be similar to those found on PokerStars, there will be no play through requirements to cashout player funds and processing times will be based on the method selected.
PokerStars are also working on a fair solution for players who had earned Full Tilt Points in the rewards program, and inter site transfers may also become available allowing players to transfer their bankrolls from Full Tilt Poker to PokerStars.