It's Official: PokerStars to Buy Full Tilt Poker

July 31st, 2012 | 9:06 pm

PokerStars publicly confirms its agreement with the U.S. Department of Justice to purchase Full Tilt Poker, and repay all players from outside the U.S.A.

By Matt Marietta, Rakeback.com Executive Editor

On July 31st a statement appeared on Full Tilt Poker's website, stating that as part of its agreement with the U.S. Department of Justice (DOJ), PokerStars has obtained Full Tilt's assets, and will re-launch the online poker room under their own management.

Nice, But Where's My Money?

PokerStars has committed to the full reinbursements of all outstanding $184 million balances owed to ROW (rest of world) players. These players, from outside of the U.S.A., will be repaid within three months of PokerStars formally closing of the deal, which is to set to happen within 7 days.

The U.S. government and DOJ (Department of Justice) itself will be dealing with the repayment of American Full Tilt players. The total $547 million settlement money paid to the US Government will in part be used to reimburse former U.S. players through a remission process to be administered by the Department of Justice.

Going forward, the new Full Tilt Poker will maintain a segregated account for player funds. PokerStars is also planning on setting up an in-client service for money transfers between Full Tilt and PokerStars.

Will There Be Poker?

Yes. PokerStars plans to reopen Full Tilt Poker in most markets within 90 days of closing the deal. However, they are not going to apply for licenses in France, Italy, Spain, Denmark, Belgium or Estonia.

But it's tough luck for Americans, since according to the DOJ agreement there will be no real money poker in the U.S. until such time as there is regulation and licensing permitting this.

How About My Full Tilt Points (FTPs) and Rakeback?

PokerStars are reviewing all previous Full Tilt reward programs and will provide more details later as to a fair resolution for players with accumulated FTPs, Iron Man Medals and other rewards. Rakeback.com spoke with a Full Tilt employee earlier and have been informed that their affiliate team have all the data required to get back up and running as before within a month of the deal's conclusion. Stay tuned for more details regarding your Full Tilt rakeback.

It's said you players have already been able to contact support@fulltiltpoker.com with your questions, and a new support team is in place ready to assist you.

• Read the Full Tilt Statement (PDF 87KB)
• Read the PokerStars Press Release (PDF 57 KB)
• Read Los Angeles Times story (www.latimes.com)