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Best of Howard Stutz

Gaming Guru

Howard Stutz
 

After deal, PokerStars returns $100 million to gamblers

16 May 2011

Disgraced online gambling company PokerStars said Friday it has returned more than $100 million to U.S. gamblers since it reached an agreement with government prosecutors last month that allowed Americans to cash out their accounts.

PokerStars, whose American operations were frozen on April 15 when the U.S. Department of Justice shut down the company's website, said it was still operating Internet gambling sites in other European markets. The company is licensed in the Isle of Man.

Eleven individuals, including the founders of PokerStars, Full Tilt Poker and Absolute Poker, were charged by federal prosecutors with money laundering, bank fraud, and operating illegal gambling businesses in a nine-count indictment unsealed in New York. The websites were frozen and the government said it was seeking $3 billion in money laundering penalties.

Full Tilt Poker struck a similar agreement with the Justice Department to return customers' balances, but it was unclear if funds had been returned.
After deal, PokerStars returns $100 million to gamblers is republished from Online.CasinoCity.com.