We’ve seen it coming for months, but PokerStars has finally made the official announcement that it will be acquiring Full Tilt Poker. Before Black Friday, the two companies were top competitors in the online poker market. Since Full Tilt Poker’s downfall, the company has been searching for an investor, and has finally found one in PokerStars.
Before PokerStars can acquire Full Tilt, the company will have to pay $731 to the American government, settling the civil charges laid against Full Tilt Poker for fraud. $547 million will go directly to the government while $184 million is being used to refund American players, who have been waiting over a year to receive their deposits.
“Over the past few days, I signed the papers necessary to complete Full Tilt’s deal with the US Government,” Bitar has said. “I believe that this deal will result in Full Tilt’s customers being repaid.”
It will be an expensive endeavour for Poker Stars, but it will be worth it for both parties involved. Poker Stars will eliminate any potential competition and secure its place as the biggest online poker room while Full Tilt Poker will be able to finally repay its players.
