Internet poker sites to pay hundreds of millions to settle lawsuit

Wednesday, August 1, 2012  

Two Internet poker sites will forfeit hundreds of millions of dollars to settle a lawsuit filed by the U.S. Attorney for the Southern District of New York.

PokerStars will forfeit $547 million to the federal government. The money will be used to reimburse U.S. players of the site, who will have to ask the Department of Justice for funds.

“We are pleased to announce these settlements by Full Tilt Poker and PokerStars, which allow us to quickly get significant compensation into the victim players’ hands," U.S. Attorney Preet Bharara said in a press release.

As part of the deal, PokerStars agreed to acquire Full Tilt Poker. Another $148 million will be forfeited to pay foreign players.

Get the Story:
2 Poker Sites Will Forfeit Millions (The New York Times 8/1)

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