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Absolute Poker Strikes Deal With DOJ

Written on  5/12/11 By Recentpoker.com staff writer Anthony Aperman :

But players funds will not be immediately available due to legal issues
 
Interested parties will be relieved to hear that Absolute Poker, including UB (formerly Ultimate Bet) has apparently reached an agreement with the US authorities to facilitate US online player refunds.
 
Absolute Poker’s statement said that the US Attorney's office for the Southern District of New York (SDNY)has agreed to provide all necessary assurances to third parties that they may work with Absolute Poker to facilitate the return of funds.
 
But the company points out that it still faces several legal issues which need to be navigated before funds can be paid out and therefore, said funds will not be immediately available.
 
The Company has notified the SNDY that it has closed its US-facing operations and has agreed to stop real money poker play in the US.  Its domains Absolute Poker.com, Ultimate Bet.com and UB.com will remain under the curatorship of the US authorities.
 
Further terms will see the appointment of a monitor, approved by the US Attorney's office, to assess Absolute Poker's compliance in terms of the agreement.
 
A Company spokesperson said: “Today’s signing of the agreement with the DOJ is an important step towards the safe and efficient return of funds to our US players.  We can now move as expeditiously as possible to collect player monies from third party processors as a prelude to establishing proper mechanisms for the return of funds to our US players.  As previously announced, we have already taken specific actions to exit the US market by closing our US-facing operations.

  Blank Rome LLP will continue to engage in discussions with the SDNY in order to complete the necessary agreements for the final transfer of frozen fund balances to our US players.  This remains our highest priority.  We will continue to update our players and the poker community, as we move forward to resolve outstanding issues.”



Gambling News :

Tim Chung Wins MPNPT Manchester - The 288-runner £550 MPNPT Manchester Main Event today crowned its champion, awarding the bulk of the £150,000 total prizepool to the nine players surviving after two days of tournament poker at the Grosvenor Casino.

MPNPT Manchester Day 2 - Day 2 of the £550 MPNPT Manchester Main Event saw 60 Day 1 survivors (from a total of 288 entries) and three intrepid last-minute registrants sit down to play to the final table.

Day 1B MPN Poker Tour Manchester - Day 1B of the £550 MPNPT Manchester Main Event saw the field rise to 285, as players took full advantage of the whole-day re-entry period.

Day 1A MPNPT Manchester - The £150,000 guaranteed MPNPT Manchester kicked off today in style – 74 poker players from all over Europe arriving at the Grosvenor Casino to contend the first of two starting days

Kung Fu Rooster Slot Goes Live - Celebrate Chinese New Year - 2017 Year of the Rooster. It's time to sweep away any ill-fortune and make way for incoming good luck, with this exciting 12 lines slot game.

Sensational Sixes Slot Goes Live - Light up Icons like BAR's, black spades, red hearts, blue diamonds, and green clubs. The best part of Sensational Sixes are the three wild icons, for 2X, 4X, and 6X multipliers!

3 New Betsoft Slots - 3 new Betsoft slot Games were also added this week to most online casinos allowing US players.

2017 Bodog Super Millions Poker Open - The first events on the 105-tournament schedule have already been completed; there are three more tourneys on Thursday’s schedule, with a total of $34,000 in guaranteed prize money waiting to be won.

Pokerstars Pulls Out Of Coloumbia - Pokerstars Has taken the decision to cease offering real money services to players located in, playing from or resident within Colombia, effective from the 17th of July 2017.

The Railbird Launched By Americas Card Room #acra - Watching your friends conquer the tables just got a whole lot easier. Americas Card Room recently launched its industry-first Player Observer Tool dubbed “The Railbird”, a new feature that allows players seated at Americas Card Room tables to instantly share a live stream of their action with friends.

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