August 1st, 2012
Weekly Update from Rich Muny, VP of Player Relations
Yesterday, PPA sent out a member-wide announcement with terrific news — the Justice Department approved the deal for PokerStars to purchase Full Tilt Poker!
From the Department of Justice press release:
Under the terms of the settlement with PokerStars, the company agreed to forfeit $547 million to the U.S. and to reimburse the approximately $184 million owed by Full Tilt to foreign players, in order to fully resolve the allegations in the complaint. The settlement further provides that PokerStars will acquire the Forfeited Full Tilt Assets from the Government. Full Tilt’s U.S. fraud victims will be able to seek compensation for their losses from the Department of Justice from the $547 million forfeited by PokerStars.
In other words, PokerStars has provided funds to cover all player balances at Full Tilt Poker and the DoJ is establishing a process by which we U.S. players can request and receive our money. While PPA does not yet have the detailed information on the specific process to follow, we are calling for a streamlined process and repayment of 100% of player account balances.
To aid in all of this, PPA will gather the needed information on the reimbursement process in real time and post it to http://theppa.org/repayment. I will be using the PPA guide to apply for my reimbursement and am looking forward to trialling the process for all of us. We have all been in this together from the get go, so I am personally pleased that we will be in it together as we finally recover our funds and press on for victory in the fight for licensed and regulated online poker.
PPA’s legal team will remain fully involved as the ‘voice of the player’ to ensure we are all heard throughout this process.
For more information:
Poker Players Alliance Press Release
Department of Justice Press Release
PokerStars Press Release
PokerStars’ FTP FAQ
Social media. For the most up-to-date news on this issue, follow us at:
- The Poker Advocacy with Rich Muny webcast airs live each Monday, at 8 pm ET, on OnTilt Radio (listen live here). Follow the program on Facebook at facebook.com/PokerAdvocacy, and on Twitter at @PokerAdvocacy. The show site is ontiltradio.com/ppa.
- Webcast: “PPA Weekly Update” airs live each Tuesday at 9:45 pm ET on Fifth Street Radio (listen live here).
- OnTilt Radio: “The Ryan Sayer Show” I joined Danielle Adams Benham as guest cohost for a great discussion on the Full Tilt Poker purchase. (7/31) (listen here).
- KOMO News Radio: PPA Executive Director John Pappas (7/30) (listen here)
- OnTilt Radio: “Poker Advocacy with Rich Muny.” I was joined by John Pappas for a great discussion. (7/30) (listen here or on iTunes here).
- Fifth Street Radio: I sat down with host Mark Hoke to discuss the poker advocacy effort (7/24) (listen here)
Thank you for your continued support!
2012 US Online Poker Survey Winner
Congratulations to M. Harris of South Beloit, Illinois. Mr. Harris is the winner of a brand new Kindle Fire for his participation in the 2012 US Online Poker Survey. The PPA would like to thank Mr. Harris and the thousands of other Online Poker players who took this survey. The information we have received will play an important role in demonstrating to lawmakers the importance of a licensed and regulated Online Poker industry here in the US. Once again, thank you to everyone who participated in this survey.
The PPA wishes to keep active members like yourself updated on the latest poker advocacy news by periodically sending out select events and headlines. We hope you find it informative and thank you for your continuing support.
|The Poker Players AllianceDedicated to Protecting America’s Favorite Card Game The Poker Players Alliance is a nonprofit membership organization comprised of poker players and enthusiasts from around the United States who have joined together to speak with one voice to promote the game and to protect poker players’ rights. Visit us at theppa.org
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