PokerStars settles with United States DoJ

Today’s announcement of our settlement with the U.S. Department of Justice (DOJ) closes one chapter in our corporate history and opens another.

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We have admitted to no wrong-doing with regard to our past U.S. operations and can now focus all of our energy and resources on advancing our global business, which now includes operating Full Tilt Poker. You can find details of the announcement at our PokerStars press center.

We plan to re-open the Full Tilt site and,

most importantly, we will make available all funds for players outside the U.S. within 90 days of the formal close of the deal, which will occur in the next seven days. The money paid to the US Government will in part be used to reimburse former Full Tilt Poker customers in the United States, through a remission process to be administered by the Department of Justice.

Paying back Full Tilt players was a key component in our agreement to acquire the assets. This is not only important to the individual players who have had their bankrolls tied up for more than a year, but it’s also vital to re-building trust in online poker and instilling confidence in the global poker economy.

It’s too early to begin disclosing many details about our strategic plans for Full Tilt, but our first order of business is to re-open the site, pay back all of the players and begin rebuilding Full Tilt’s reputation. Going forward, we will operate Full Tilt as a separate brand, giving players another leading and trusted platform to enjoy the game. The re-launched Full Tilt site will bring back the innovative features, the authentic poker and the cutting-edge software that made it so popular with millions of players worldwide.

Getting the site up-and-running and paying

back players is a complex challenge involving technical, practical and logistical hurdles affecting millions of player accounts. We’re confident we can work through the challenges and our track record as a responsible and responsive company will hopefully bring some comfort to the players that have waited so long for resolution. We ask for just a bit more time and patience as we sort through the details. For now, we’ve posted an FAQ for Full Tilt players. There is also a short FAQ for PokerStars players.

One final word about the future U.S. market. Our settlement acknowledges that both PokerStars and Full Tilt are eligible to apply for a license in the U.S. to offer real money poker when states or the federal government offer such an opportunity. We look forward to this opportunity and are confident that we bring tremendous value, regulatory experience, market credibility and financial integrity to the marketplace.

We’re optimistic about the future and we look forward to sharing the next chapters in our history with you.

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Full Tilt Poker Statement

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.

We understand that former Full Tilt players have many questions and we will strive to answer as many as possible as soon as we possibly can. Below is an FAQ addressing many initial questions. We will continually update this FAQ as more information becomes available.

FAQ

General

 

Will Full Tilt be closed down permanently?

No. We plan to re-open Full Tilt in most markets within 90 days of closing, making player accounts fully available for use, play or withdrawal. We are not currently planning to seek a license to operate Full Tilt in France, Italy, Spain, Denmark, Belgium and Estonia. For Full Tilt players in these markets, we will work with regulators to determine the appropriate mechanisms for making funds available. In any case, these funds will be available as soon as possible.

 

When will Full Tilt be re-opened?

We plan to re-open Full Tilt in most markets within the next 90 days.

 

I play on PokerStars but not on Full Tilt. How does this affect me?

This will not impact players on PokerStars in any way. You can continue playing as before and your money is completely segregated and safe for play and/or withdrawing at any time you please.

 

What countries will Full Tilt Poker reopen in?

Full Tilt Poker will reopen in most countries and we plan to apply for a global license with the Isle of Man and Malta gaming authorities. We are not currently planning to seek a license to operate Full Tilt in France, Italy, Spain, Denmark, Belgium and Estonia. Full Tilt players in these countries will be able to play on PokerStars.

 

Does this settlement mean I can play real money online poker in the United States?

No. Under the terms of our agreement with the U.S. Department of Justice, we will not offer real money online poker in the U.S. until such time as there is regulation and licensing permitting this. The agreement does expressly allow for both PokerStars and Full Tilt Poker brands to apply for such licenses in the U.S. whenever they are offered.

My Account

 

Can I transfer my FTP funds to an account on PokerStars?

We hope to have the functionality in place to allow inter-site transfers between Full Tilt Poker and PokerStars, so that you can enjoy playing again on either platform of your choosing. We will provide additional guidance on this in the coming weeks.

 

I’m from Italy (also: France, Spain, Belgium, Estonia, Denmark). Can I use my funds on PokerStars, due to not having the option to play on Full Tilt Poker again?

We are currently working with the relevant authorities in your country and hope to put in place a solution that allows you to transfer your Full Tilt funds to a PokerStars account.

Cashouts

 

How do I cashout my funds? (United States and related territories)

The process of reimbursing Full Tilt US players will be addressed by the US Government.

 

When will I be able to cashout my funds? (France, Spain, Belgium, Italy, Estonia, Denmark)

We are currently working with the regulators in your country on the mechanisms required to withdraw your funds. We are committed to making these funds available within 90 days.

 

Will I be able to cashout my entire balance? (Rest of World)

Yes. Full balances will be made available for immediate withdrawal once the site is reopened.

 

What cashout methods will there be? (ROW)

We will strive to ensure our complete payment offering is available at the time of launch. Where possible this will be consistent with the current offering at PokerStars.

 

Are there going to be play though requirements before I can cashout? (ROW)

No. You will have full access to your funds immediately and in most cases will be able to fully withdraw funds using the same methods previously available in your market.

 

How long will my cashout take to process? (ROW)

Processing times will differ depending on the method of cashout.

 

What happens to my Full Tilt loyalty rewards?

We are reviewing all previous Full Tilt reward programs and will provide more details on plans for these programs in the near future. We intend to have a fair resolution for players with accumulated points and other rewards under the program.

 

Can I use my FTP funds on PokerStars?

We are currently working on solutions for players to have inter-site transfers between FullTiltPoker.com and PokerStars.COM.

Contact

Who should I contact in future to discuss my Full Tilt account?

You should contact support@fulltiltpoker.com where one of our representatives will assist you the best they can with your account query.

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