PokerStars Buys FTP and Now Looks At the US Online Poker Market

PokerStars Buys FTP and Now Looks At the US Online Poker Market August 3, 2012 August 3, 2012 Tim Glocks
Posted on  Aug 3, 2012 | Updated on  Aug 3, 2012 by Tim Glocks

PokerStars has finally managed to clear its reputation and sort out all previous issues relating to the events of Black Friday and operating in the US despite laws to the contrary and processing illegal payments. As part of the settlements that the poker company has made with the U.S. Department of Justice, the poker room with the tarnished beyond repair reputation will beabsorbed by PokerStars.

In regards to the problems faced by both poker sites after the events of Black Friday, Mark Scheinberg said,

We are delighted we have been able to put this matter behind us, and also secured our ability to operate in the United States of America whenever the regulations allow….The way we have operated our business since the U.S. Department of Justice brought its claim has underlined our credentials as a responsible online poker operator.

However, as per the rules, PokerStars –a stalwart brand in the poker industry will not be taking on board any of the old partners and players associated with the site who have been involved in the Black Friday incidents.

Chairman Mark Lipparelli who heads the Gaming Control Board stated, “Prior acts of any applicant will be investigated on a case-by-case basis. In cases where I emphasized that ‘perfection cannot be the standard’ should not be misconstrued or carelessly selected to mean I do not believe many applicants will fail the high standards we expect. In fact, I would argue our system strongly dissuades those applicants from applying.”

PokerStars, may be able to acquire a US poker license but as of now there is no reports regarding this, leaving the question of whether PokerStars will enter the US poker market hanging in the air. However, PokerStars seems to still enjoy a good reputation that is stronger now that it has braved the DOJ.

Preet Bharara, the US attorney who has been handling this case, made a statement approving the purchase. She mentioned that the new settlement between PokerStars and Full Tilt “allows us to quickly get significant compensation in the victim players’ hands.”

Players are sure to be looking forward to having their accounts settled with Full Tilt every soon. According to Mark Scheinberg, the Chairman of PokerStars,

Acquiring certain assets of Full Tilt Poker strengthens PokerStars, brings welcome relief to Full Tilt Poker players who have been waiting over 12 months for repayment of their money, and benefits the entire poker community.

Tim GlocksAuthor

Tim Glocks is a retired professor, he currently contributes to Tim enjoys playing poker and has taken it up as a hobby since his retirement. He has taken part in many online tournaments and has become a veteran in a short space of time. Visit Tim’s google + page here