The latest round of reimbursement to U.S. claimants in the Full Tilt remission process was the smallest yet at $1.8 million, but it’s likely not small to the 600 or so players who benefited from Thursday’s payout.
The Garden City Group (GCG) revealed the numbers at the official website yesterday, advising that ACH payments went out on Sept. 25 and may take a few business days before players see the cash in their accounts. The 600 players join about 33,000 others who have been on the receiving end of reimbursement since the first of four payment waves began in late February.
The total paid to date is inching nearer to $100 million and certainly will eclipse that amount when Full Tilt Pros and disputed claimants see their funds reimbursed. The latter are likely in for a wait until at least 2015, according to Poker Players Alliance (PPA) honcho John Pappas.
DoJ has decisions to make
The PPA executive director advised that the DoJ still needs to establish criteria regarding cashouts requested and not fully processed on or around (before or after) Black Friday –April 15, 2011. The result of which has led to player account balances (as they see it) failing to fall in line with the balances on record with the DoJ as per the books kept by those in charge of Full Tilt’s mismanagement.
It is highly likely that a number of disputed claimants will not be satisfied with whatever decision the DoJ makes regarding cashout timelines and their acceptance. Keep in mind that an appeals process is available to those players who would like to further argue the disputed account balances.
Thursday’s reimbursement went to petitioners whose account balances were confirmed. Simple arithmetic tells us that those U.S. claimants received average payouts in the amount of $3,000. While providing the latest update, the GCG also reminds players whose bank account information has been found to be invalid to supply the correct information by October 16.
Full Tilt goes through changes
Since payouts in the remission process began about seven months ago, Full Tilt has experienced some major changes. The first was the sale of Rational Group assets that include PokerStars and Full Tilt to Amaya Gaming for $4.9 billion in June.
One month later, Full Tilt rebranded by dropping “Poker” from its name and web address. That move was made to better reflect a transition to a gaming site that also offers online casino games along with poker.
Those changes will not affect the Full Tilt Poker remission process. Those still waiting to be reimbursed can expect payment, just don’t expect it very soon.