20 Jun 2024, 00:39

PokerStars Buy Full Tilt Poker

Gamble321.com

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the : 01/08/2012

PokerStars, the world’s biggest online poker company, has agreed to pay $731 million to settle the U.S. government’s civil charges that the company used fraudulent methods to process payments and evade U.S. restrictions on Internet gambling.

Under the agreement, PokerStars, based in the Isle of Man, will also purchase Full Tilt Poker, a former rival which collapsed following the U.S. government’s move in April 2011 to shut down the U.S. operations of the major online poker operators. The deal calls for PokerStars to forfeit $547 million to the U.S. government and make $184 million available to reimburse non-U.S. customers of Full Tilt within 90 days who had money on deposit at the company.

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