Full Tilt Poker to re-launch Nov. 6 after receiving Isle of Man gaming license
Full Tilt Poker.com will re-launch in Europe on Nov. 6 after the company was licensed Tuesday by the Isle of Man Gambling Supervision Commission.
In a statement released by the Rational Group, Full Tilt Poker will reimburse $184 million to former Full Tilt Poker players who lost their funds when the previous owners ceased operating the site in June 2011.
Rational Group, which also operates PokerStars, acquired the assets of Full Tilt Poker in July following settlement of its criminal case with the U.S. Department of Justice. PokerStars agreed to pay the Justice Department a $731 million fine to settle charges stemming from the April 15, 2011 indictments of representative of PokerStars, Full Tilt and Absolute Poker.
PokerStars has operated under an Isle of Man gaming license since 2005.
Steve Brennan, Chief Executive Officer of the Isle of Man Gambling Supervision Commission, said in a statement released by the Rational Group that Full Tilt’s application was assessed and approved on its own merits. Full Tilt was granted the Isle of Man license following thorough scrutiny of the proposed operations by regulators.
“The Gambling Supervision Commission is confident that Full Tilt Poker will safeguard the interests of its players and adhere to the strict policies and procedures governing Isle of Man licensed gaming companies," Brennan said.
"Full Tilt Poker’s application was strengthened by the fact that their new owners and management team are known to us and have an impeccable record of compliance with the Isle of Man’s regulatory requirements," he added.
Under its previous ownership, Full Tilt had operated under a gaming license from Alderney. Both Alderney and Isle of Man are located in the British Channel Islands.
"In our view the Isle of Man’s e-gaming regulations set the gold standard for the online gaming industry,” Rational Group General Counsel Paul Telford said in a statement. “In particular, the Isle of Man leads the way in ensuring player funds are protected under mandatory trust arrangements that are built into their regulations."
