Please find below the press release, in full, received at Casino Life & Business Magazine office.
POKERSTARS DETAILS PLANS FOR FULL TILT POKER RE-LAUNCH AND PAYMENT OF $184 MILLION TO PLAYERS
PokerStars revealed details of its plan to repay $184 million to former customers of Full Tilt Poker outside of the United States of America and announced that FullTiltPoker.com will re-launch during the first week of November.
PokerStars has been working with regulators in all relevant jurisdictions to ensure that repayment is conducted in strict compliance with local regulatory requirements that ensure the security of player accounts and confirmation of the rightful ownership of those accounts.
Depending upon their jurisdiction, players will follow slightly different processes for accessing their funds.
· France, Spain, Denmark, Estonia and Belgium: In order to comply with local regulations, former Full Tilt Poker players will be repaid through the locally-licensed PokerStars platform. Players will ‘pair’ a PokerStars account with their Full Tilt account allowing them to withdraw or use their balances on the licensed PokerStars site
· In Italy, PokerStars is working with regulators to determine the appropriate process to ensure compliance with local regulations. Those details will be announced as soon as possible
· In all other markets (with the exception of the USA), Full Tilt Poker players will have full access to their accounts when www.FullTiltPoker.com re-launches during the first week of November.
PokerStars received the assets of Full Tilt Poker this summer under a wide-ranging agreement with the U.S. Department of Justice. As part of that agreement, PokerStars committed to repaying the former Full Tilt Poker players outside of the United States. The total of those balances is USD$184 million. PokerStars also paid the U.S. Government USD$547 million, which 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 U.S. Government.