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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 :
Playtech Acquires ECM Systems -
Online gambling soiftware provider Playtech plc has announced the acquisition of a ninety percent stake in UK bingo software developer ECM Systems for a consideration of GBP 14.9 million.
Marks and Spencer store Manager steals to Gamblie Online -
The Cambridge News reports that a 28-year-old manager of a Marks and Spencer store, Martin Trenor, has been jailed for three years for stealing GBP 254,538.11 in shop takings over the course of a year and spending it almost immediately at online gambling websites.
Chinese Gambling crackdown could damage high roller revenue -
Fast-moving events this week have seen Australian media reports quoting hundreds of millions of dollars wagered by Chinese high rollers in Aussie land casinos, offset to some extent by Crown claims that this whale gambler" demographic generates only 12 percent of turnover.
EvenBet Open Face Chinese Poker -
Open Face Chinese Poker online games provider EvenBet has reported that its Open Face Chinese Poker product is gaining traction with games recently integrated for desktop action at the Malta-licensed operational site Poker Grant.
2016 EPT Malta -
The European Poker Tour is off to a good start in Malta, with German pro Dietrich Fast claiming a well-earned Euro 174,000 main prize in the Euro 10,000 buy-in Single-Entry Rebuy event.
Team Hot Launches -
#teamhot The Philippines licensed and GGNetwork-powered online poker operator Natural8 has announced the appointment to its "Team Hot" professional player line-up of Asian poker aces Kitty Kuo, Xuan Liu and Dong Kim.
Netent Q3-2016 Earnings Report -
#netent The UK continues to be an important growth driver but the weaker pound had an estimated negative effect of about three percentage points on revenue growth compared to the same quarter last year.
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