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POKERSTARS DETAILS FULL TILT POKER PAYMENT PLAN

Tuesday September 25,2012  : POKERSTARS DETAILS FULL TILT POKER PAYMENT PLAN
 
Online poker giant confirms November 6 as re-launch day
 
Pokerstars continued to exploit its Full Tilt Poker acquisition this week with the unveiling of its payment plan following re-launch on November 6.
 
Part of the company's deal with the Department of Justice was a commitment to pay outstanding amounts totalling some $184 million to FTP non-US players.
 
Pokerstars intends to pay former FTP players in Estonia, France, Spain, Denmark and Belgium through the locally-licensed PokerStars platform.
 
Players will ‘pair’ a PokerStars account with their Full Tilt account which will enable them to withdraw or use their balances on the licensed Pokerstars site.
 
However, Pokerstars is still negotiating with the Italian regulator AAMS on how players should be recompensed in that market, and the details on how this will work have yet to be released.
 
Players in all other regions like Ireland and the UK will have full access to their accounts at Full Tilt once the site begins operating again in the first week of November.
 
A statement from the company Tuesday revealed that Pokerstars has been working with regulators "...in all relevant jurisdictions to ensure 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.”
 
As previously reported, US players will be paid through an as yet unfinalised government scheme, funded from the $547 million which Pokerstars paid as part of its settlement and acquisition deal.
 
Latest reports indicate that the US government is still considering applicants from independent third parties that possess the expertise to make such substantial disbursements.

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Gambling News :

Amaya FY2016 Trading Update - The Montreal-based Amaya online gambling group has issued a trading update covering FY 2016 and improving its forecast revenue and earnings numbers.

Another Mega Fortune Dreams jackpot for Euro 3.5 million - In a statement Friday NetEnt advised that the lucky player is a 62-year-old woman from central Finland who won the seven-figure sum from a Euro 1 stake.

Stanleybet has filed a legal action against the government of Cyprus - Bookmaking firm Stanleybet has filed a legal action against the government of Cyprus, claiming Euro 12.5 million as compensation for what it claims is loss of profits and opportunities, prejudice to image and business reputation and legal costs.

LeoVegas To Sponsor Leicester Tigers - The agreement includes official partner accreditation, media space at Welford Road stadium and matchday tickets and VIP hospitality as well as two pitchside perimeter boards from the 2017/18 season and one for duration of the 2016/17 season.

Optima Information Services iShop - Industry visitors to the recent TVC Bookmakers Trade Fair in Solihull, UK were much taken by Spanish betting technology firm Optima Information Services' iShop product, and the company went on to win the SBC Best Retail Betting Product award with it last month.

Golden Nugget Las Vegas Launches New Betting App - Golden Nugget Las Vegas has unveiled a sports wagering app offering Nevada punters the comfort and convenience of being able to wager from anywhere in the state.

CAGAYAN CHIEF MOVES TO REASSURE LICENSEES - Apparently $4 million is going into improvements of the Authority’s data centre in the Freeport at Cagayan, whilst another $3 million has been earmarked for an upgrade to data infrastructure located outside the Freeport.

New Massachusetts Online Gambling Bill - It seems that every two years (give or take a few months) Massachusetts state Senator Bruce Tarr flights an online gambling legalization bill in the state Senate.

Las Vegas Sands Fined for foreign bribery allegations - #lasvegassands Las Vegas Sands, the land casino company owned by multi-billionaire US mogul Sheldon Adelson, has again had to cough up a stiff penalty for non-compliance with the law.

Libratus AI Program Destroying Human Poker Opponents - #Libratus With 40,340 hands played (about a third of the 120,000 planned) Dong Kim is down $29,506, whilst Jimmy Chou ($113,7728), Daniel McAuley ($141,877) and Jason Les ($186,489) are all carrying losses.

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