PokerStars, Justice Department Reach Settlement
Internet gaming giant PokerStars will forfeit $731 million to the U.S. government over the next three years to settle a criminal complaint with the Department of Justice, although the company admits no wrongdoing as alleged in the April 2011 “Black Friday” indictments.
PokerStars, which refunded money it owed to American gamblers more than a year ago, will acquire the assets of Full Tilt and relaunch the gaming website in legal markets as a separate brand.
The settlement, announced separately Tuesday by Isle of Man-based PokerStars and the U.S. attorney’s office for the Southern District of New York, puts to rest many issues surrounding “Black Friday,” in which federal prosecutors cracked down on Internet poker in the United States, stopping three of the largest companies from taking wagers from gamblers in the United States.
PokerStars continues to operate legally in Europe and other markets where online gaming is regulated.
Under terms of the settlement, PokerStars can apply to offer Internet poker to U.S. customers if state or federal governments legalize the activity.
“We are delighted we have been able to put this matter behind us, and also secured our ability to operate in the United States of America whenever the regulations allow,” PokerStars Chairman Mark Scheinberg said in a statement. “The way we have operated our business since the U.S. Department of Justice brought its claim has underlined our credentials as a responsible online poker operator.”