A three way agreement between Poker Stars, Full Tilt Poker and the US Department of Justice (DOJ) will result in Poker Star to operate in the US in a near future.
The deal in the agreement is to pay all players owed by Full Tilt Poker, including USA players and players outside the US.
Poker Stars published a release informing the acquisition of Full Tilt Poker and the payment of all its players in a period of three years which the amount can be around U$ 547 million.
With this agreement with the US Department of Justice (DOJ), both Poker Stars and Full Tilt Poker brands can apply to US gaming authorities to offer real money poker as soon the US regulates online poker activity by real money.
Poker Stars will re-launch Full Tilt Poker in several markets with a new management team. The Full Tilt Poker operations will continue to be based in Dublin.
"We are delighted we have been able to put this matter behind us, and also secured our ability to operate in the United States of America whenever the regulations allow.
This outcome demonstrates our continuing global leadership of the online poker industry, and our commitment to working with governments and regulators to ensure the highest standards of protection for players.
Acquiring certain assets of Full Tilt Poker strengthens PokerStars, brings welcome relief to Full Tilt Poker players who have been waiting over 12 months for repayment of their money, and benefits the entire poker community. Full Tilt Poker’s customers outside the U.S. can soon look forward to accessing their accounts and playing on the re-launched site, confident that they are supported by PokerStars’ history of integrity and our track record of delivering high-quality and secure online poker.", said Mark Scheinberg
"The way we have operated our business since the U.S. Department of Justice brought its claim has underlined our credentials as a responsible online poker operator,” Scheinberg continued. “In particular, the prompt repayment of our former US customers in as quick a time frame as possible demonstrated our industry-leading commitment to the segregation of customer funds. We continue to encourage jurisdictions all over the world to introduce sensible online poker regulation."