Full Tilt Poker Claims to Be Resolved By April 2015
The drawn out, and often controversial, Full Tilt Poker repayment process may be coming to a close as soon as March, 2015, according to a report from PocketFives.com.
PocketFives’ reporting is based on a e-mail one of its readers received from the Garden City Group (GCG), the company in charge of the repayment plan, reading:
Thank you for your email. GCG is still working with the Department of Justice to evaluate disputed and new petitions. Currently, we do not have an exact timeline for when these petitions will be paid. However, we expect the first distribution for disputed petitioners to occur before the end of March 2015.
As of this writing, GCG has not posted any announcements about the final payouts on its website. The most current announcement from the administrator is dated October 27, 2014 and is aimed that mopping up the last of the outstanding repayment applications (not payments) by November, 2014.
This final group of FTP repayments will be going out to around 3,500 players and should total somewhere around $3 million (USD).
If these reports are accurate, next month will bring the final chapter of the online poker world’s biggest and costliest scandal.
What it won’t bring, however, is satisfaction to players who felt aggrieved at every step of the way, from Black Friday right until the current moment.
Many players who were owed Full Tilt money felt they had to jump through a few too many bureaucratic hoops to get their money, which is why a large number sat out the process entirely.
Nonetheless, GCG has already overseen payments totaling more than $200 million to around 35,000 players since it started remittance back in February, 2014.
While $200 million is an impressive figure, it’s just a fraction of the $547 million that the Rational Group paid out to the US Government to revive the Full Tilt brand.
In an effort to squeeze out every penny it can from its massive Full Tilt Poker investment, Rational Group has recently pushed FTP into the casino and sports betting markets.
Anyone who still has questions regarding their FTP payouts should contact the GCG via e-mail.