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Full Tilt Remission Update Clarifies Next Round of Payments

One day after the three-year anniversary of Black Friday, the Garden City Group (GCG) issued an update regarding the second round of payments to be distributed in the Full Tilt remission process.

The claims administrator revealed on the official website that the next wave of payments should be dispensed by the end of July. This second round will include petitioners who submitted more than one petition but withdrew duplicates, those who originally disputed the account balance on record but later withdrew such disputes, players with confirmed account balances who recently updated bank account information, petitions confirmed later than those in time for the first round, and affiliates with confirmed account balances.

Prior to the second round of claimants receiving their funds, about 1,000 players are in line to receive payment near the end of May. Those petitions were found to have incomplete or inaccurate information. Players in this category were previously notified of the errors in their petitions and those who made the appropriate corrections will have the proper information reviewed in the next few weeks in time for payment before June.

A total of $81 million has been distributed to U.S. Full Tilt players thus far. The bulk of that, $76 million, landed in player bank accounts on Green Friday – February 28. Another $5 million was dished out on April Fool’s Day to roughly 2,200 players who originally supplied the GCG with incorrect bank account information.

Both of those disbursements are considered “part of the first payment wave” by the GCG, as will be the late May payment to the 1,000 or so players whose petitions were also found to contain errors. Still waiting on further word regarding their frozen funds are players labeled with “pro’ status, as well as those who disputed the account balances on record with the DoJ and GCG.

 

 

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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.

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