In an announcement today by the Rational Group, it was learned that the Isle of Man Gambling Supervision Commission has now granted Full Tilt Poker a license which allows the company to offer its online poker services from within the country.
The Rational Group is the company that owns PokerStars and also acquired the Full Tilt Poker assets a couple of months ago in August. The FTP site will be re-launched on the 6th of November whilst at the same time giving non-US based players access to the money that has been frozen in the site for around a year and a half. The total amount owed to those players is around $184 million and was part of the deal to acquire the site.
The Rational Group released a press release stating that the license was granted after the GSC had thoroughly scrutinised the proposed operations. The GSC has also gone on record to claim that they were particularly interested in who and what the management structure will be like at FTP.
They said “The GSC are fully confident that FTP will strictly safeguard all of the interests of their players and comply with each and every policy concerning the Isle Of Man licensed gaming companies” the CEO of the GSC Steve Brennan then went on to say “The whole application process was certainly given extra weight due to new owners and of course the management team having already been known to us, especially as their record has been impeccable with regards to adhering to the regulations that are put in place”
Under its previous ownership Full Tilt Poker was actually governed by the Alderney Gambling Control Commission, which took the operating license of the site away on the 29th June 2011. For the new Full Tilt to be governed by the GSC it meant that all of the servers are required to be located within the Isle Of Man which meant that the poker site had to have over 30 tons worth of the hardware transported from Dublin in Ireland across to the country. They will still be leaving the headquarters for Full Tilt back in Ireland though.
Paul Telford who is the Rational Group general counsel was quick to praise the GSC by saying “It is our strong opinion that the online gaming regulations set on the Isle Of Man are the top standard for the industry as a whole” he then went on “They are second to none when it comes to making sure their operators continually offer a safe and socially responsible service, they also make sure that all players funds are completely protected by ensuring that trust arrangements are part of their regulations”
Full Tilt seems to be in the news on a daily basis now, with that set to continue right up until the re-launch date. We are going to be keeping an eye on everything that happens, making sure we bring you the information as soon as we learn anything interesting.