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Great Read On Pokerstars Fulltilt Deal

Tuesday August 21,2012 : GOOD INTERVIEW ON THE POKERSTARS - FULL TILT DEAL (Update)
 
Communications chief Eric Hollreiser talks to Yogonet in an exclusive interview
 
Pokerstars communication chief Eric Hollreiser gave an exclusive interview to the online publication Yogonet over the weekend, reviewing the momentous events leading to the acquisition of Full Tilt Poker and his company's future plans for the site and its possible entry to the US market.
 
In the interview Hollreiser details the company's "no wrongdoing" settlement with the US Department of Justice and its agreement to pay $574 million over the next three years, with the first tranche of $255 million already paid over to US officials.
 
Much of that will go toward paying US players, whilst Pokerstars will put a further $184 million in a segregated account for payment to non-US players once FTP is back up and running - possibly as early as November this year.
 
Importantly, Hollreiser signalled that the door to a potentially federal or state-regulated online poker market in the United States remains open to his company, which is interested in the possibilities.
 
Under the agreement with the Department of Justice, Pokerstars did not admit to any wrongdoing. Furthermore, the agreement explicitly permits Pokerstars to apply to relevant U.S. gaming authorities, under both Pokerstars and Full Tilt Poker brands, to offer real money online poker when state or federal governments introduce a framework to regulate such activity.
 
"We’ll certainly watch the developments closely and make decisions based upon the circumstances," Hollreiser told Yogonet. "We are the leading online poker site and licensed in more countries than anyone in the industry. We bring tremendous value, credibility and integrity to the marketplace. With our U.S. legal issues now resolved, we are a very qualified candidate for a license."
 
Hollreiser revealed that the FTP workforce in Dublin was being retained, and that there was the possibility of expansion in the future.
 
Read the full interview here: http://www.yogonet.com/english/2012/08/17/we-fully-expect-to-participate-in-a-future-regulated-us-market

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Gambling News :

Is Gibraltar Out of Luck in US Tax Challenge - Gibraltar's challenge to the UK 15 percent point-of-consumption tax on online gambling operator revenues has already failed in the UK High Court, and it looks as if it may be rejected by the European Court of Justice too.

Quickspin are now available in Denmark - #quickspin The roll-out strengthens the long-standing partnership between the supplier and the operator, with Quickspin games already available on Vera&John’s websites around the world.

UCypher Launches - Indian entertainment and media entrepreneur Ronnie Screwvala has announced the formation of UCypher, an eSports tournament in which ten teams will compete.

Extreme Live Gaming In deal With Betsson - Extreme Live Gaming, a subsidiary of the Novomatic Interactive group, has announced a live dealer product deal with the Betsson online gambling group, with an initial launch planned for Betsson.com, followed by other brands in the Swedish group's portfolio.

Expansion Mode For BoyleSports - The Bambury premises are situated in Kildare, Meath and Dublin and will be refurbished and rebranded after acquisition, with the total of 31 staff remaining in employment..

Safecharge Q4-2016 - Online e-cash processing firm Safecharge, where Playtech's Teddy Sagi is a majority shareholder, released a trading update on its Q4-2016 performance Thursday, flagging record transaction processing volumes and revenues.

ASA Most Controversial Ads of 2016 - Paddy Power's penchant for advertisements that cause a stir saw the betting company mentioned twice in the Top Ten most controversial adverts of 2016 released by the Advertising Standards Authority in the UK Thursday.

Yggdrasi To Enter Italian Gambling Market - Yggdrasil’s Italian offering will include the company's collection of in-game promotional tools, BOOST, improving gamification, and the social sharing tool, BRAG. The company’s mobile product will also be available on its HTML5 iSense 2 platform.

888sport is the latest to join sports betting integrity body ESSA - Major operator 888sport is the latest to join sports betting integrity body ESSA with the company adding its customer base and betting market platforms to ESSA’s global anti-fraud alert and reporting system.

First partypoker live event to be held in Russia - Partypoker’s new live tour will kick off in Russia on March 24, 2017 at Sochi Casino and Resort in association with Club Poker Management. Online Day 1’s will start on partypoker on March 12, 2017.

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