PokerStars Announces Plans to Repay Full Tilt Players at November Re-launch
PokerStars has announced that FullTilt will be re-launched in the first week of November and that $184m of player balances will be made immediately available.
The method for reclaiming player funds depends on which country is classified as the player’s legal jurisdiction. The definition is based on players’ verified addresses on file with Full Tilt as at June 29, 2011.
US players who have relocated abroad after that date will not have immediate access to their old balances even though they will be permitted to play on the new Full Tilt.
Players from France, Spain, Denmark, Estonia and Belgium will reclaim their balances through the locally regulated PokerStars site. Each Full Tilt account will be “paired” with one on PokerStars and players may withdraw or use their balance as they wish. Players in those countries who do not have an account with the locally regulated PokerStars site will need to open a new account.
In Italy, PokerStars is still working with the regulator AAMS to agree a process which is compliant with local regulations.
With the exception of the US, players in all other countries can log on to their Full Tilt accounts and immediately have full access to their balances when the site launches in the first week of November.
US players will need to await the completion of the procurement process as the DOJ has begun its search for a payment processor to handle the return of $159m (less fees). Applications for prospective firms were due August 31, but the DOJ has yet to publicly announce their selection. In total, PokerStars has paid the U.S. Government $547m in its settlement with the Department of Justice, part of which will be used to repay USA players.