PokerStars to Re-launch Full Tilt Poker in November
PokerStars, which recently acquired Full Tilt Poker as part of a settlement deal with the US government, has revealed details regarding the re-launch of Full Tilt Poker, transfer of funds, and fund withdrawal.
PokerStars will reimburse all non-US Full Tilt Poker players as soon as it re-launches Full Tilt Poker in early November, and over $100 million will be circulated into the online poker gaming community as soon as Full Tilt Poker accounts are unfrozen. Players can withdraw their funds immediately without meeting any pending play through requirements. According to the PokerStars website, the online poker company has not yet worked out the finer details, but will take all the required steps to make sure that players get a complete refund.
PokerStars will re-launch Full Tilt Poker with the same software. Eric Hollreiser, head (corporate communications) for PokerStars, said, “The re-launched Full Tilt site will bring back the innovative features, the authentic poker and the cutting-edge software that made it so popular with millions of players worldwide.”
PokerStars will operate Full Tilt Poker as a site separate from PokerStars, which means that the player pools will be totally different. Simultaneously, players Full Tilt Poker accounts will be connected to their PokerStars accounts, making it easy for players to move funds from one account to the other. Players can simultaneously play at both Full Tilt Poker and PokerStars with one bankroll.
Although Full Tilt Poker will continue to have its headquarters in Dublin, PokerStars has applied for licenses for Full Tilt Poker both in the Isle of Man and in Malta for the same player pool. It may be recalled that PokerStars.eu, which was launched in January, is licensed both in Malta and the Isle of Man for certain income tax reasons. Full Tilt Poker will be operated on a similar model.
Full Tilt Poker will not accept players from France, Estonia, Italy, Spain, Belgium, and Denmark. Players in these countries will not be able to withdraw money from their Full Tilt Poker accounts, owing to which PokerStars is trying to find out ways to reimburse them. The online poker company has already discussed the issue with gambling authorities in these countries and hopes to refund players in these countries by November. US players, in the meanwhile, will get back their money from the DoJ although the DoJ has not yet issued clear guidelines regarding this.
Full Tilt Poker still has 200 people employed in its Dublin office, but it has already lost 500 of its employees. Hollreiser is of the opinion that there will be “growth in the Dublin office” in future. PokerStars is now busy appointing a management team for Full Tilt Poker.
Hollreiser said, “It’s too early to begin disclosing many details about our strategic plans for Full Tilt, but our first order of business is to re-open the site, pay back all of the players and begin rebuilding Full Tilt’s reputation. That reputation has been severely damaged in 15 months time, but PokerStars is committed to regaining the trust of players.”
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