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Online PokerAugust 1, 2012·1 min read
PokerStars Acquires Full Tilt Poker in Historic Deal with US Department of Justice
PokerStars has finalized a complex agreement with Full Tilt Poker and the US Department of Justice, acquiring Full Tilt Poker's assets. The deal, approved by the US Department of Justice, involves PokerStars paying $547 million over three years. Full Tilt Poker will transfer all its assets to the US government, which will then transfer them to PokerStars.
Under the agreement, PokerStars will make funds available for withdrawal to non-US Full Tilt Poker players within 90 days. Isai Scheinberg will be removed from any executive position at PokerStars within 45 days of the agreement's signing.
This settlement marks a significant development in the poker industry, with PokerStars emerging as a dominant player following the acquisition of Full Tilt Poker's assets.
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