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PATIENT POKER FANS IN LINE FOR $82 MILLION
2014-02-19

The Garden City Group - the independent financial administration company selected by the US Department of Justice to dish out legitimate Full Tilt Poker payments - has announced that the first tranche of pay-outs will involve $82 million dollars and will go to 30,000 former Full Tilt players who have no dispute with the amount in their FTP accounts as assessed by the administrator.
The payments are expected to go out at the end of this (February) month, and will be financed from the hundreds of millions of dollars paid to the DoJ by Pokerstars in settlement of its Black Friday shutdown three years ago and its subsequent acquisition of Full Tilt Poker (see previous InfoPowa reports).
Unconfirmed reports suggest that as much as $300 million may have been involved in the official seizure and shutdown of Full Tilt Poker in April 2011.
The following year, Pokerstars inked a deal with the DoJ, agreeing to repay FTP's international players and hand over another $547 million for the DoJ to disburse to owed FTP players in the USA, clearing the way for its takeover of Full Tilt Poker.
Although Pokerstars complied with its undertaking to pay the international players, doling out another $184 million, the DoJ spent an inordinate amount of time finding the right administrator and putting an assessment and payment system in place.
In the next phase, GCG will deal with players who dispute the amounts it claims they are owed, along with the cases of affiliate marketers with FTP accounts and professional players engaged by the old management.




GLOBAL CASH ACCESS LAUNCH IGAMING SPECIFIC PRODUCT
2013-08-19

Global Cash Access (GCA) has launched Everi, a payment and monetisation solution focused on interactive gaming.
The new product is intended to bridge the payment gap between land-based and interactive gaming said a company statement, and comprises Everi Payments a straight-through payments system that consolidates numerous payment options, traditional and alternative, into one payment wall and Everi's Digital Wallet which manages real money and social currencies.
We are eager to expand our expertise in the traditional gaming payments space to the evolving interactive realm, said David Lopez, President and Chief Executive Officer of GCA. Everi will revolutionize the payments process by making interactive gaming payments an integral part of the player loyalty and monetization process for online and land-based gaming operators through its complete integration with GCAs kiosks and expansive land-based operations.


ILLINOIS ONLINE GAMBLING OFF THE TABLE FOR NOW (Update)
2013-04-25

Difficulty in reaching a consensus on land gambling expansion with the Illinois Thoroughbred Horsemens Association has resulted in state legislators stripping an internet gambling legalisation provision from SB1739 in order to secure agreement.

It is not the first time that politicians in the state have initiated online gambling legalisation proposals, but all have fallen by the wayside.

Unconfirmed reports suggest that the current drive for legalisation has not been entirely abandoned, however, and that an internet gambling legalisation proposal is still possible as a stand-alone bill to be introduced in the state Senate soon.

Given the clout of the horseracing faction, which can take online wagers on its races thanks to carve-outs in US federal law, such a move will likely also be strongly opposed.




Get a $100 Free Bet - Paid Cash - No rollovers
2013-01-30