Update: PokerStars Seals FTP Acquisition Deal with Payment

The first $225 paid

Good news arrived this week for all unpaid Full Tilt Poker players ndash; the acquisition of the company through deal between Pokerstars and the US Department of Justice has been sealed, as the online poker giant paid the first $225 million required within six days of the agreement.

On the occasion, company spokesman Lee Jones said: ldquo;Were delighted to announce that we have officially closed our deal with the U.S. DoJ as of today, August 9th,rdquo; adding that Full Tilt Poker will be up and running again by November.

This was confirmed by Full Tilt Poker legal counsel Cozen O’Connor who noted: quot;The asset transfer to PokerStars was consummated immediately following the United States Government’s receipt of PokerStars’ first payment of $225 million due under PokerStars’ settlement agreement with the U.S. DOJ, which payment was confirmed this morning, August 9, 2012.quot;

In the next ninety days, Pokerstars will have to pay additional $184 million for all legitimate FTP online poker account balances for non-US players. It is being speculated that this process will be conducted through a revitalized FTP.

Prior to this, FTP’s US players were informed that they will be paid out on application to the US government under a scheme, whose details have not been revealed yet.