Absolute Poker and UB.com reach DoJ agreement

Absolute Poker and UB.com reach DoJ agreement

Wednesday, 11 May 2011

Absolute Poker and UB.com's American players could be one step closer to getting their money back after the sites reached an agreement with the Department of Justice.

The deal with the US Attorney's Office means that third parties may work with the sites to facilitate the return of funds to US players which are currently held by third party processors.

It's not all good news for players though as a statement released last night confirmed that the sites 'still faces several legal issues which must be navigated before funds can be paid out to US players,' the upshot being that player funds, 'will not become immediately available for withdrawal as a result of today’s agreement with the DOJ.'

A spokesman from Blanca Games, parent company of Absolute Poker and UB.com said, “Today’s signing of the agreement with the DOJ is an important step towards the safe and efficient return of funds to our US players. We can now move as expeditiously as possible to collect player monies from third party processors as a prelude to establishing proper mechanisms for the return of funds to our US players. As previously announced, we have already taken specific actions to exit the US market by closing our US-facing operations. Blank Rome LLP will continue to engage in discussions with the SDNY in order to complete the necessary agreements for the final transfer of frozen fund balances to our US players. This remains our highest priority. We will continue to update our players and the poker community, as we move forward to resolve outstanding issues.”

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Tags: Absolute Poker, UB.com, Department of Justice, Black Friday