PokerStars Acquires Full Tilt - Agreement with DoJ complete

31 July 2012

Finally the news we were all waiting for, PokerStars and the DoJ just made official the $731Million agreement for the acquisition of Full Tilt Poker assets with immediate effect.

The agreement, approved by the DoJ, is finally complete and allows Full Tilt Poker to forfeit all assets to the US Government, then transfer those assets to PokerStars management and in return the government agrees to remove all civil complaints against Full Tilt companies.

PokerStars agrees to forfeit $547.000.000 to US Government within the period of 3 years, by doing so will in return also see government dismiss all civil complaints against PokerStars companies.

Once the assets transfer is complete, PokerStars committed to have a segregated account with an estimated amount of $184.000.000 with non-US players funds available for immediate withdrawal without any restrictions.

US players will be compensated separately by US Government.

As part of the agreement to purchase assets and dismiss civil complaints, Isai Scheimberg will have to forfeit any managing role at any PokerStars related company.

As part of the agreement, Full Tilt, PokerStars or any related company are not allowed to offer real money in the USA until is admitted by law.

Sources: DoJ, PokerStars, Full Tilt, Diamondflush

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