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Full Tilt Poker to Re-launch

PokerStars, which bailed out the site, will be in charge

Full Tilt Poker to Re-launch

PokerStars, which has bought the rights to operate Full Tilt Poker from the U.S. Department of Justice by agreeing to reimburse customers outside of the U.S. and by paying DOJ a total of 7 million over three years, plans to re-launch Full Tilt on November 6.

According to Eric Hollreiser, spokesman for PokerStars, interviewed by Yogonet.com, “We have reached a settlement of the civil charges filed against us by the U.S. Department of Justice related to our former business offering real-money online poker. As part of the settlement agreement, PokerStars has also acquired the assets of Full Tilt Poker, and we have committed to the full reimbursement of Full Tilt Poker customers outside the United States.”

PokerStars, based in the Isle of Man, repaid what it owned its U.S. customers a short time after it ceased operating in the U.S. in April 2011, shortly after the “Black Friday” raids by DOJ against online poker operations in the U.S. It continued to offer games to non-American players.

Without admitting to any wrongdoing, PokerStars will be allowed to apply to state and federal authorities to offer online poker should that become legal. Hollreiser said the company will pay its non-U.S. players back by November 6, and that U.S. players who had accounts with Full Tilt Poker when it was closed in 2011 will be able to access their money once it reopens in the U.S.

Hollreiser added, “Together, PokerStars and Full Tilt can grow the poker market globally faster than either brand could in isolation. This will become clearer in the coming months. For now we must focus on re-opening the Full Tilt site, repaying players and restoring Full Tilt’s reputation.”