Rumors Persist PokerStars/Full Tilt Poker Deal Imminent
Numerous sources in the poker media are still reporting a deal between PokerStars and Full Tilt Poker will be announced this week although hopes are dwindling it will meet the supposed Monday deadline.
The deal would reportedly see FTP players finally repaid for the millions of dollars they’ve been owed since Black Friday hit last year.
Last Friday Wendeen Eolis penned an article on PokerPlayerNewspaper.com that claimed Full Tilt and PokerStars negotiations were "in the can" and that players could expect frozen funds returned by Christmas.
Since then Gambling911 and poker journalist Jennifer Newell have both "confirmed" the rumors through their own sources. Newell even specified the announcement would be made today.
A very reliable source just told me the Stars/FTP deal is done. If no announcement today, it will happen on Monday. Book it.— Jennifer Newell (@WriterJen) July 27, 2012
While the news appears promising, as of 12 p.m. PST on Monday there has yet to be an official statement from the U.S. Department of Justice, PokerStars or Full Tilt on the issue.
Full Tilt players have already had to deal with several false hopes including the much-publicized Tapie Group deal that eventually fell through a few months ago.
Recent news on the potential PokerStars/FTP deal has also been mostly limited to poker media sources with little mainstream attention at this point.
Long, Painful Journey with DOJ at its Center
It’s been a long, painful journey for poker players with money trapped on Full Tilt since Black Friday occurred last spring.
Initially U.S. players were set to be paid back but after months of delays it finally came to light that FTP did not have players funds.
US Department of Justice attorney Preet Bharara even alleged the online poker site was a Ponzi scheme as it continued to accept funds form players around the world while the board members knew it was insolvent.
Since then various deals have been discussed with the DOJ a factor in all of them.
There have been several outlandish claims regarding a potential PokerStars deal with some poker insiders speculating PokerStars would be allowed back into the U.S. if it agreed to buy Full Tilt Poker and refund players.
For more information be sure to check our comprehensive Full Tilt Poker Black Friday timeline.