Full Tilt Poker reopened by PokerStars until 6th November

11 August 2012

It’s done! The Department of Justice of the United States signed yesterday the official agreement that finally will allow the room of the red spade to acquire Full Tilt Poker in exchange for investing $ 731 million. Of these, 547 will be delivered to the DoJ and the remaining 184 will go to pay the withdrawal requests of the players not residing in the United States.

PokerStars has already made the payment of $ 225 million to DoJ so this could begin the process and payment of the blocked money back to players residing in the U.S. The remaining 332, PokerStars will deliver them to U.S. courts in a maximum of three years.

After the final formalization of the agreement, the company plans to reopen FTP on November 6th and pay the players residing outside the United States within a maximum of 90 days as specified in the agreement that was published last week. For now Full Tilt wont open world wide, PokerStars already clarified that Full Tilt wont be opened in European countries with regulated markets such as Italy, France or Spain.

FTP legal advisors have addressed the end of the process with optimism: "The future of Full Tilt Poker is in PokerStars hands. During the past 16 months, executives and managers of FTP have made a great effort in a very complicated situation with the intention of safeguarding the value of FTP and its assets, including employees, for the transaction of sale could be carried out. Full Tilt Poker brand value continues thanks to these efforts. U.S. Players will receive in less than 90 days, which is very positive. PokerStars is respected by the community. Who better than PokerStars to be the owner of FTP? The brand still has much value."

Meanwhile, Shyam Markus, poker room manager at Full Tilt Poker, has opened a post on TwoPlusTwo to try to resolve the doubts of the players on the sale of PokerStars and FTP on issues such as money back or future performance of the room.

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