Full Tilt Poker (FTP) is one step closer to being back in business after PokerStars paid $225 million to the Department of Justice (DOJ) for the company’s assets today.
PokerStars has been working for several months to purchase the troubled company from the DOJ and plans to have it up and running within three months.
FTP will be run as an entirely distinct property from PokerStars. It’s also being reported that the resurrected FTP will have a similar, if not identical, look and feel to the old FTP.
Full Tilt Purchase Details
Details of the DOJ/PokerStars deal are still emerging, but here’s what’s being reported on poker news sites like LegalPokerSites.com so far.
- Former FTP account holders will have their country status determined by where they were listed as of June 29, 2011, regardless of where they are today.
- There’s no word yet on the status of Full Tilt Points.
- US players looking to recoup funds from frozen accounts will have to continue waiting. It’s expected that some sort of announcement regarding this situation will be made before the end of the year.
News for International FTP Players
International players who could legally play on FTP before Black Friday will be able play again with a few, big, exceptions.
Thanks to gaming regulations, players in France, Italy, Spain, Denmark, Belgium and Estonia will not be able to use the new FTP site. They will, however, be able to transfer funds from the FTP account into a PokerStars account.
Are you willing to work with the reconstituted FTP? Let us know your thoughts in the comments section below.