10/09/2012 : FULL TILT POKER ACHIEVES ISLE OF MAN LICENSING
Pokerstars' new acquisition good to go for November launch
Full Tilt Poker, now part of the Pokerstars-Rational group, has been granted an operating licence by the Isle of Man Gambling Supervision Commission, allowing the company to provide online poker services from the Isle of Man.
The Rational Group, which operates Pokerstars and acquired the assets of Full Tilt Poker in August will relaunch FTP on November 6 and repay its non-U.S. customers $184 million, the company again confirmed Tuesday in a press release.
The release notes that FTP was granted the Isle of Man licence following "thorough scrutiny of the proposed operations by the Gambling Supervision Commission."
It is understood that the GSC scrutiny included a review of the senior management structure controlling Full Tilt Poker's operations.
Steve Brennan, CEO of the Isle of Man Gambling Supervision Commission, commented Tuesday:
“The Gambling Supervision Commission is confident that Full Tilt Poker will safeguard the interests of its players and adhere to the strict policies and procedures governing Isle of Man licensed gaming companies.
“Full Tilt Poker’s application was strengthened by the fact that their new owners and management team are known to us and have an impeccable record of compliance with the Isle of Man’s regulatory requirements.”
FTP technical hardware including servers was transported from Dublin, Ireland to the Isle of Man last month in order to comply with the Isle of Man licensing requirements.
The FTP offices will remain in Dublin, and Pokerstars has already revealed that it intends to operate FTP as a distinct brand.
Pokerstars legal executive Paul Telford said: “In our view the Isle of Man’s e-gaming regulations set the gold standard for the online gaming industry.
"Their attitude toward ensuring operators provide a service that is safe, fair and socially responsible is second to none. In particular, the Isle of Man leads the way in ensuring player funds are protected under mandatory trust arrangements that are built into their regulations.”