Online Poker News - Latest Developments in Pokerstars - Full Tilt Deal
23rd of August 2012 - latestpokerbonuses.com
Communications chief explains company's future plans
Reviewing the momentous events leading to the acquisition of Full Tilt, the Pokerstars communication chief Eric Hollreiser detailed the company's "no wrongdoing" settlement with the US Department of Justice and its agreement to pay $574 million over the next three years.
The first tranche of $255 million has been already paid over to US officials toward paying US players. Further $184 million Pokerstars will put in a separate account for payment to non-US players once FTP is back up and running - possibly as early as November this year.
According to Hollreiser it is also very important that the door to a potentially federal or state-regulated online poker market in the United States is opened to his company, that the agreement permits Pokerstars to apply to relevant U.S. gaming authorities, under both Pokerstars and Full Tilt Poker brands.
"We’ll certainly watch the developments closely and make decisions based upon the circumstances. We are the leading online poker site and licensed in more countries than anyone in the industry. We bring tremendous value, credibility and integrity to the marketplace. With our U.S. legal issues now resolved, we are a very qualified candidate for a license."
At the same time, the FTP workforce in Dublin was retained with the possibility of expansion in the future.
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