Big news was announced in the poker world yesterday, and for once, it seems positive for everyone involved.
The Full Tilt Poker and PokerStars deal was given the green light by the United States Department of Justice, and players can finally see rays of hope that (some) of their money will be returned after uncertainty over the last 15 months.
PokerStars will make $184 million available to reimburse non-US customers that had money on deposit with Full Tilt within the next 90 days. US players, unfortunately will not see money within 90 days, but will have an opportunity to request that they be compensated for their losses. No word yet on how affiliates will be reimbursed.
PokerStars will also pay $547 million to the DoJ to settle civil charges that the company evaded US laws on online gambling and fraudulent methods to process payments. This payment dismisses civil forfeiture and money laundering claims against PokerStars and Full Tilt Poker.
With the debacle coming to an end, and PokerStars is now preparing to enter the US market once again. In the meantime, FTP will re-launch in most markets with “regulatory oversight” transferred to PokerStars.