It was good news all around for former players of the online poker site, Full Tilt Poker, which suddenly stopped operating last April, after the US authorities swooped down on several poker rooms and shut down their domains. For a while, none of the players of any of the sites were able to access the funds in their accounts, even those who lived out of the US, such as UK poker players. However, in a short space of time, Poker Stars made the funds available to players once more and they were able to see their funds returned.
Unfortunately, it’s been a whole different story for players at Full Tilt Poker, who have been unable to access their funds from the site. Despite the US authorities accusing Full Tilt Poker of operating a Ponzi scheme and defrauding its players, no amount of threats have managed to convince management to return the money – until now. For several months, rumors have been flying that Full Tilt Poker is to be sold to its rival Poker Stars in a three way deal with the US authorities.
This week, it was finally confirmed that the deal has been clinched, and Poker Stars will pay $730 million to acquire Full Tilt Poker’s assets. $184 million of that amount will be made available to foreign players, including former UK players at the site, which they can withdraw from their accounts. US players will be able to withdraw from the rest of the money paid by Poker Stars.
A statement by Poker Stars regarding the transaction read: “PokerStars.com will also make available in a segregated bank account all outstanding balances owing to all non-US customers of Full Tilt Poker, an amount totalling $184 million, with no restrictions on withdrawals within 90 days of completing this transaction.”
“PokerStars.com has remained open for non-US players with all its licenses in good standing without interruptions,” it added.
The Full Tilt Poker domain will be relaunched in most areas of the world with an Isle of Man license, it was announced by Poker Stars.