PokerStars closes deal with DoJ
Friday, 10 August 2012
PokerStars has made its first payment of $225m to the United States Department of Justice and completed its takeover of Full Tilt Poker.
The deal agreed with the DoJ last week required PokerStars to pay the first chunk of a total of $731m within six days. Now that has been done the way is clear for PokerStars to relaunch Full Tilt and start the process of paying back FTP's overseas players.
PokerStars representative Lee Jones revealed the news in a post on Two Plus Two,“We're delighted to announce that we have officially closed our deal with the U.S. DoJ as of today, August 9th”. Jones also confirmed that Full Tilt Poker will be live no later than 6th November.
Around $184m is outstanding to non-US Full Tilt players which will be paid by PokerStars. Precise details of the restitution procedure for US players is yet to be finalised. US DoJ will have responsibility for processing the $150m due to US players.