PokerStars Outline Plans for Full Tilt Poker Re-Launch and $184 Million Payment to Players

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PokerStars has revealed the details of its plan to repay $184 million to customers of Full Tilt Poker based outside of the United States. The site will be reopening during the first week of November and are committed to paying players within 90 days of the DoJ agreement.

PokerStars have been working with regulators in different EU regulated jurisdictions in order to facilitate payment of moneys owed to players and that repayment is conducted in strict compliance with local regulatory requirements that ensure the security of player accounts and confirmation of the rightful ownership of those accounts.

Depending upon their jurisdiction, players will follow slightly different processes for accessing their funds. For France, Spain, Denmark, Estonia and Belgium, in order to comply with local regulations, former Full Tilt Poker players will be repaid through the locally-licensed PokerStars platform.

Players will “pair” a PokerStars account with their Full Tilt account allowing them to withdraw or use their balances on the licensed PokerStars site.

Since there is no official gaming regulation in Canada for non-resident gaming companies, players of Full Tilt Poker from Canada will have full access to their accounts when Full Tilt Poker re-launches during the first week of November. Players will still be required to verify their accounts with the site.

For players who previously lived in the United States prior to Black Friday (or prior to Full Tilt shut down) but who now live in Canada, it may get a little more tricky as players will likely have to wait and receive their settlements with the other US players. Even if those players currently have accounts with PokerStars out of their Canadian address, it is unlikely they will be able to get their funds as a Canadian player on record pre-Black Friday (or pre-Full Tilt shut down).

In more related news, over thirty tons of computer equipment owned by Full Tilt Poker arrived in the Isle of Man, marking one more step towards the re-launch of Full Tilt Poker under PokerStars ownership. The assets include mainly gaming servers and equipment were transported by military aircraft to the Isle of Man, the domicile of PokerStars and where Full Tilt Poker is expected to be newly regulated.

PokerStars has also signaled their intention to defend the fast fold poker patent originally filed by Full Tilt Poker when they introduced Rush Poker. Originally launched by Full Tilt and proven to be a profitable feature in online poker software, several other poker companies have recently come out with their own versions of the fast fold poker variant, including PokerStars when they launched Zoom Poker.

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