#News on full tilt poker refunds full#
However, Full Tilt’s shoddy bookkeeping and commingling of funds and categories added layers of complexity to the project, to the point that GCG continued to accept remission applications from former players all the way through November of 2015. It was late 2013 before the DOJ had selected Garden City Group as the program’s official administrator, and before the process was opened up for former FTP players to seek refunds of online balances. The waiting for the former United States-based Full Tilt players, however, was only getting underway. PokerStars likely also committed an extra $100 million or thereabouts to refund the original Full Tilt Poker’s non-US player base, which it quickly relaunched to much of the rest of the world. PokerStars acquired all of the original FTP’s global assets, and agreed to include a hefty $184 million as part of its own massive $731 million settlement in 2012 with the DOJ. While admitting no wrongdoing for its own US-facing, poker-only operations, PokerStars parent Rational Group nonetheless agreed to a complex settlement provision to take care of the left-in-the-lurch Full Tilt players. While the original Full Tilt turned out to have been scandalously mismanaged and very arguably looted from within, international online-poker giant PokerStars stepped forward, amid that site’s own ongoing negotiations on similar “Black Friday” charges. The process through which most of those former players have received remission payments is a rare tale of consumer success in an industry where most online shutdowns have resulted in a total loss of player funds. Hundreds of thousands of US-based online poker players were among the site’s customers in the days prior to April, 2011’s “Black Friday” indictments, which forced the original Full Tilt to close its doors. This marks the eighth such wave of remission payments, or refunds, that has been announced by GCG, which was appointed by the US Department of Justice in late 2013 to handle the processing of the remission payments to affected players. The neverending saga of the reunification of former United States-based players of the pre-Black Friday Full Tilt Poker with their former online bankrolls added another chapter yesterday, when Ohio-based claims administrator Garden City Group announced that a new round of approved remission payments has been approved for distribution in the coming weeks.
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