The Department Of Justice have finally broken their recent silence on the whole FTP repayment process, with them finally announcing that in January they will hire one of the Claims Administration companies that have applied to help them with the players repayment process.
They have revealed that they are still evaluating each of the applications for the role, and expect to make their decision in the New Year, whilst they appointed Claims Company will also be expected to start their work in the same month.
It has been a very long process so far, with the deal PokerStars made with the DOJ to acquire the assets of Full Tilt Poker being made months ago. The poker giants paid out $731 to close the deal with $225 million of that money set to be put by for the repayment of all of the US based players owed money by the former ownership of FTP. It is believed that there are 1.3 million players who are owed that money and they would have been waiting more than two years by January next year.
The players have started to become increasingly frustrated with the wait, having seen that Full Tilt has since re-launched and has paid back the “rest of the world” players everything that was owed.
Poker Players Alliance!
So much so that just last week ,the Poker Players Alliance attempted to get a response from the DOJ about how they plan to repay the players and how long it will take, with the DOJ not giving an official response.
Whilst this news is at least something and shows that the wheels may finally be getting into motion, there is still no timeline being mentioned on just how long this process will take next year. Many players feel that the whole process has taken far too long considering that the closing date for claims administration companies to make a bid for the work closed on the 31st of August. This means that by the time January comes around it would have taken the DOJ five months to make a selection.
There has also been no clear indication on whether there will be a cost for the whole remittance process, or whether the players will be taxed on their money before they receive it.
So it seems there is still some way to go for US players, with many questions still left unanswered. However, it could have been worse and the DOJ decided that the players would not get a penny due to online gambling being illegal.