PokerStars' Deal with DoJ Closes; Full Tilt Poker Expected to Relaunch November 6, 2012

According to a report by PokerNews.com PokerStars has confirmed that the $731 Million Full Tilt Poker acquisition deal with the U.S. Department of Justice was formally closed on Thursday. PokerStars has plans to repay players outside the U.S. within 90 day and relaunch Full Tilt Poker by November 6th, per last week's agreement.

The deal was contingent on PokerStars making a payment of $225 million to the U.S. government within six days from the time the deal was penned. Now that the transfer is complete, PokerStars will make all outstanding balances, (totaling $184 million), available to the "rest of the world" players whose funds were frozen on Full Tilt Poker.

The remainder of the money owed will be paid over the next three years to the U.S. government.

Once the deal was completed on Thursday morning, the poker room manager at Full Tilt Poker, Shyam Marcus, addressed a few questions at TwoPlusTwo.com regarding the relaunch of Full Tilt. Markus revealed that he was "FTPDoug," the employee who was posting on a number of poker forums before and after Black Friday. Markus will post going forward on the TwoPlusTwo forums as "Shyam Markus" and from @FTPMarkus on Twitter.

Some of the topics covered by Markus included VIP points, a Full Tilt Pro team, rakeback accounts, and the remission process for players in the U.S. There's still much to be considered by management and confirmation was received from Markus that U.S. players will need to go through the DOJ to recoup funds on Full tilt Poker. Much of the remission process is still up in the air.

Visit Markus' post at TwoPlusTwo.com.

Like us on Facebook and follow PokerWorks on Twitter to stay updated with poker news, events, and promotions.