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First $82 Million Dollars in Payments Out To Fulltilt Poker Players

Wednesday February 19,2014 :  PATIENT POKER FANS IN LINE FOR $82 MILLION
And that's just the first tranche of Full Tilt Poker pay-outs.
The Garden City Group - the independent financial administration company selected by the US Department of Justice to dish out legitimate Full Tilt Poker payments - has announced that the first tranche of pay-outs will involve $82 million dollars and will go to 30,000 former Full Tilt players who have no dispute with the amount in their FTP accounts as assessed by the administrator.
The payments are expected to go out at the end of this (February) month, and will be financed from the hundreds of millions of dollars paid to the DoJ by Pokerstars in settlement of its Black Friday shutdown three years ago and its subsequent acquisition of Full Tilt Poker
Unconfirmed reports suggest that as much as $300 million may have been involved in the official seizure and shutdown of Full Tilt Poker in April 2011.
The following year, Pokerstars inked a deal with the DoJ, agreeing to repay FTP's international players and hand over another $547 million for the DoJ to disburse to owed FTP players in the USA, clearing the way for its takeover of Full Tilt Poker.
Although Pokerstars complied with its undertaking to pay the international players, doling out another $184 million, the DoJ spent an inordinate amount of time finding the right administrator and putting an assessment and payment system in place.
In the next phase, GCG will deal with players who dispute the amounts it claims they are owed, along with the cases of affiliate marketers with FTP accounts and professional players engaged by the old management.

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Gambling News :

FanDuel adds English Premier League action - Daily fantasy sports operator FanDuel, which is now additionally active in the UK market, has announced the inclusion on its roster of English Premier League action, with associated contests scheduled for roll-out next week.

Fortuna Entertainment Group in deal with Czech Football Association - Online gambling operator Fortuna Entertainment Group Nv has announced a sponsorship deal for an undisclosed consideration with the Czech Football Association (FAČR), effective from the 2018-19 season for six years.

Paddy Power and Inspired in Deal - The new agreement sees Paddy Power join a roster of other Inspired HTML 5 clients that includes William Hill, Gala Coral, Bet365 and Betfred.

Martin Crowley DraftKings Collusion Charges Dismissed - Our readers may recall a story that surfaced last month in which allegations were made that there was suspected collusion in a million dollar fantasy sports competition at DraftKings.

BeBetway British Horse racing Authority Authorized Betting Partner - Online gambling operator Betway has become the latest bookmaking firm to agree to voluntary payments over the next three years to the British Horse racing Authority in return for accreditation as an Authorized Betting Partner.

Coral Q4-2016 earnings reports - Ahead of its forthcoming merge with Ladbrokes, the online and land gambling group Coral published its Q4-2016 financial numbers Thursday, detailing the twelve week period ended September 25 2016.

Unibet in cooperation with - Online gambling operator Unibet Group has signed a cooperation agreement with the FIFA subsidiary Early Warning System GmbH (EWS).

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2016 World Poker Tour-best bet Bounty Scramble - That calmness and discipline not only kept Panzica in the game, but began to grind down Malones advantage, aided by some fortunate double up opportunities.

GLOBAL SPORTS BETTING WORTH $253.3 BILLION BY 2020 - Ujjwal Doshi, lead analyst at the research firm, says, “Low-cost cross-border service delivery is opening up sports betting markets, which were previously protected by state-regulated monopolies or dominant local operators.”

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