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Full Tilt Player Reimbursement Scheme To Be Announced At End Of May

An announcement regarding the negotiations between PokerStars, Full Tilt and the U.S. Department of Justice (DOJ), including the timetable agreed upon for the reimbursement of player funds, will come at the end of this month.

The exact date of the announcement has not yet been finalized due to the logistics involved in paying back players in the U.S. and throughout the world, but iGaming Post has reported that PokerStars officials are confident that the details will be ironed out within the next ten days and that the DOJ will give its blessing to the payback scheme.

It is also believed that the negotiations include the guarantee that PokerStars and Full Tilt will be allowed to apply for licensing to offer online poker in the U.S. marketplace if and when legislation is passed.

This comes as good news to Full Tilt players who have been waiting more than one year for reimbursement of funds that have been frozen on Full Tilt virtually since Black Friday. The hopes of players of receiving payment were first sky high when Group Bernard Tapie announced it had agreed to purchase the beleaguered poker site about eight months ago. That deal fell through about three weeks ago when Tapie could not agree to full reimbursement of players within a 90-day period.

PokerStars then swooped down and came to the rescue, either as a knight in shining armor or a monopolistic behemoth threatening to exert a chokehold on the entire online poker industry, whichever way you care to look at it, and agreed to purchase the dormant site. Let’s hope that this is the real deal and players waiting for their money will not have to suffer through another up and down swing of elation and depression regarding finalization of negotiations and full repayment of player funds.

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Charles Rettmuller

Charles has been an avid poker player for a number of years, both live and online. He holds a degree in journalism and previously worked as a reporter for a Chicago-based newspaper. Charles joined the PokerUpdate team in early 2012 and writes daily news articles for the site.