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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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