Former US based Full Tilt Poker players are set to receive a further $2.6 million in refunds according to a notice on the Full Tilt Poker Claims Administration site.
1,180 poker players based in the US have $2.6 million reasons to smile after Garden City Group (GCG), the administration team appointed to make sense of the post-Black Friday mess, completed their review of the latest tranche of petitions.
The most recent round of payments were approved by the Department of Justice Asset Forfeiture and Money Laundering section a few days ago. They include payments to players who disputed their Full Tilt Poker Account balances, and players segmented as Full Tilt Poker “professionals”.
It is the eighth round of payments to be distributed to players since 27,500 accounts received $76 million in February 2014. Later distributions were disseminated as thus:
• April 2014: 2,200 players received approx. $5m
• June 2014: 3,200 players received approx. $14m
• Sep, 2014: 600 players received approx. $1.8m
• Mar 2015: 3,500 players received approx. $2.8m
• Jun 2015: 4,000 players received approx. $4m
• Nov 2015: 2,000 players received approx. $5.7m
Estimates put the total number of repayments either completed or in the process of completion at over 44,000. GCG has never released an official number of actual petitions. The website claims 94% of all those filed have now been officially put to bed.
In April, we will all wave bye-bye to the iconic Full Tilt software as it steps aside to be gobbled up by PokerStars. All accounts will be transferred to the PokerStars site, and although the brand will remain an option for players, one would expect it to be slowly unused over time.
It’s seems like only yesterday we were knocking players like Chris ‘Jesus’ Ferguson out of Full Tilt MTTs to be rewarded with an “I Knocked Out a Pro’ t-shirt through the post.
How fast things change.