For the residents of the U.S.A. that played on Full Tilt Poker, it would seem that a resolution is drawing closer and closer. The latest news to hit the wire is that the U.S. Department of Justice has just finished auditing the Garden City Group (GCG) petitions. This means that players are one step closer to receiving the funds that have been in limbo for nearly three years. The Poker Players Alliance tweeted on 22/1 announcing the good news that was met with a strongly positive reaction from the poker-playing community.
This was confirmed yesterday by a statement that was released by the GCG on the fulltiltpokerclaims.com website that read:
GCG has been informed that the Department of Justice Asset Forfeiture and Money Laundering Section has approved the first round of payments. This distribution will include approximately 30,000 Petitions totaling $82 million submitted by Petitioners with timely, complete Petitions, who confirmed their FTP Account Balances. GCG is currently working with the bank selected by the DOJ to set up the payment process. GCG expects to issue payments via ACH before the end of February 2014 and will post further updates on the payment process in 2-3 weeks.
Please continue to check this website for updates regarding the payment process and this administration.
The 30,000 players will also receive an email telling them how to claim their money once everything has been finalised.
This series of payments will mark the first step in solving the problems surrounding Full Tilt Poker. Fortunately, it does appear that the process will be completed in a timely manner. For players with disputed claims, the situation is obviously more complex and may require more time to reach a resolution point. Still, GCG is moving forward by leaps and bounds and it is reasonable to expect all payments to be made by the original deadline of March 31st.
Since the issues surrounding poker in America, Full Tilt Poker has been acquired by PokerStars and has been growing rapidly to regain their stance as one of the most popular portals for online poker. With competent PokerStars management at the helm and the former controversy behind them, players are returning to Full Tilt Poker.