PokerStars Acquires Full Tilt: A New Era for Online Poker

PokerStars has announced a significant move in the online poker world by acquiring the assets of FullTilt. On July 31, 2012, PokerStars signed an agreement with the U.S. Department of Justice (DOJ) to take over FullTilt's operations. This acquisition marks a pivotal moment for both companies and the broader poker community.

As part of the agreement, PokerStars will compensate Full Tilt clients outside the United States with a total of $547 million over three years. Additionally, within 90 days, PokerStars will open a special bank account to hold $184 million belonging to non-U.S. Full Tilt players, ensuring that these funds are accessible without any restrictions.

PokerStars plans to relaunch FullTilt as a separate brand on most markets. The new FullTilt will be managed from Dublin but regulated on the Isle of Man. Mark Scheinberg, Chairman of the Board of PokerStars, expressed satisfaction with the resolution, stating, "We are very pleased to have finally resolved this issue and ensured our ability to return to the U.S. market when legislation allows." This acquisition not only strengthens PokerStars' position but also brings relief to Full Tilt users who have been unable to access their funds for over a year.