Online Poker News - Update: PokerStars Seals FTP Acquisition Deal with Payment
10th of August 2012 - latestpokerbonuses.com
The first $225 paid
Good news arrived this week for all unpaid Full Tilt Poker players – the acquisition of the company through deal between Pokerstars and the US Department of Justice has been sealed, as the online poker giant paid the first $225 million required within six days of the agreement.
On the occasion, company spokesman Lee Jones said: “We’re delighted to announce that we have officially closed our deal with the U.S. DoJ as of today, August 9th,” adding that Full Tilt Poker will be up and running again by November.
This was confirmed by Full Tilt Poker legal counsel Cozen O'Connor who noted: "The asset transfer to PokerStars was consummated immediately following the United States Government's receipt of PokerStars' first payment of $225 million due under PokerStars' settlement agreement with the U.S. DOJ, which payment was confirmed this morning, August 9, 2012."
In the next ninety days, Pokerstars will have to pay additional $184 million for all legitimate FTP online poker account balances for non-US players. It is being speculated that this process will be conducted through a revitalized FTP.
Prior to this, FTP's US players were informed that they will be paid out on application to the US government under a scheme, whose details have not been revealed yet.
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