Full Tilt Poker: PokerStars Acquires Full Tilt
Full Tilt Pokers players can officially start to celebrate after more than 12 months when they never knew if they would get their bankrolls back again, get a small percentage of them refunded or receive no refund at all. PokerStars released an official announcement that they agreed with the approval of the DOJ the purchase of their main rival, Full Tilt Poker.
The buy out and takeover of will mean that Full Tilt players will be able to recover their bankrolls but the agreement has much wider reaching implications. Full Tilt Poker will voluntarily forfeit its assets to the American Government and when it has done so, the money laundering and bank fraud charges against Full Tilt Poker and all its business subsidies will be dropped with prejudice.
The US Government will then transfer selected Full Tilt Poker assets and concerns to PokerStars. PokerStars have to forfeit $547 million in staggered payment to the US Government during the next 3 years. This will allow all Black Friday charges against PokerStars companies to be dismissed with prejudice too.
Once the deal is complete and everything done according to the agreement with the DOJ, then PokerStars have 90 days to make all non US Full Tilt Poker players funds available for withdrawal. Full Tilt Poker Points or other FTP reward schemes are not covered in the DOJ agreement. Legal charges against PokerStars staff and shareholders are not covered in the agreement.