We dissect the latest details of PokerStars acquisition of Full Tilt
Last week we told you about PokerStars surprise plans to acquire Full Tilt along with all of its debts, but what does this mean for Full Tilt’s players? Over the past week a clearer picture has begun to emerge and here is PokerPlayer’s round up of the latest developments.
The main news is that PokerStars plans on having the site up and running by early November, it has said this could happen as early as Sunday 4th, and that the majority of European and non-American accounts will be reinstated along with the full balances that were confiscated when the site went down back in April 2011. Cash-outs will be also be available from the very first day the site goes live.
There is also talk that the plan is to have a lot more parity between the two sites. Features could include transfers between sites and there is even talk that bans and disqualifications on one site could lead to further action being taken on the other.
But PokerStars stresses that it intends on keeping the two sites as separate identities, with many of Full Tilt’s popular formats, player pools and software all remaining the same or very similar to how they were before Black Friday. A new team of staff and management will also be hired to run the company separately from ‘Stars and the new head office will be based in Dublin.
In terms of licenses, Full Tilt will now be legislated in the same way as PokerStars. Stars have already applied for two gambling licenses; one in the Isle of Man and the other in Malta and like PokerStars there will be a FullTiltPoker.com and FullTiltPoker.eu. The reason for the different web domains is to do with certain European countries requirements to follow different tax laws.
Even with these developments there are still a load of questions that have been left unanswered, including the fate of American players balances, but for UK players you could be back on the site by November with your previous balance restored in full.