Pokerstars Issues Press Release Touting Return of Funds to US PlayersPublished on May 13th, 2011 5:25 pm EST
Pokerstars circulated a press release earlier today in which they revealed that they have returned over $100 million to their US customers over the past couple of weeks.
Pokerstars came to an agreement with US authorities on April 20th that allowed for their US customers to have their balances returned to them. Less than a week later, Pokerstars announced that their US customers were able to request their balances. A few days after that, money started hitting bank accounts all across the United States.
Full Tilt Poker and UB/AP have also came to similar agreements with the US government, but neither operation has started processing cashouts for their US customers as of yet.
Pokerstars, as we've mentioned before, was able to pay out their US customers so quickly due to their licensing agreement with the Isle of Man government, which required that Pokerstars keep player funds in segregated and protected accounts.
Paying back their US players so quickly is a major badge of honor for Pokerstars, and I'm not surprised that they issued this press release. I would expect more in the near future, especially if Full Tilt and UB/AP continue to stall when it comes to paying back their US customers.
Source: PR Newswire - Pokerstars Returns More than $100 Million to Online Poker Players in the United States
Filed Under: Online Poker Rooms
| UIGEA| Poker Legal Issues