A Statement by Nolan Dalla on the Settlement Agreement on Pokerstars’ Acquisition of Full Tilt Poker
FOR IMMEDIATE RELEASE
Today’s settlement agreement between PokerStars and the United States Department of Justice (USDOJ), which includes an announcement that PokerStars will acquire the entirety of Full Tilt Poker’s global assets, is an encouraging development for all poker players, and particularly positive news for those owed monies via their immobilized account deposits.
In fact, today’s news is the first break in the black cloud that has hung over the poker industry for 15 months. Given PokerStars’ longstanding reputation for integrity and the commendable manner in which they handled their own player-deposit crisis during 2011, all poker players should be grateful to the ownership and management team of this company for assuming a leadership role in what have been troubled times for the poker industry.
However, today’s announcement does nothing, nor should in any way, abdicate any of the principals associated with Full Tilt Poker for their irresponsible actions, criminal or not. Neither does the announcement serve in any way to remedy the gross negligence that led up to the crisis, nor amend the utter indifference of Full Tilt Poker and its principals to the suffering of innumerable poker players who endured severe financial and emotional hardships since the events of April 2011.
Full Tilt Poker’s actions during both the pre- and post-Black Friday period, represented an unprecedented level of irresponsibility and a grotesque violation of trust. The damage these industry outcasts have done to players, public confidence, and the game overall lingers and will not be forgotten nor forgiven until the principals have provided explanation, apology, and restitution.
Conversely, the actions of PokerStars during this crisis have continued to win favor from the poker community at large. I am optimistic that all poker players – residing both inside and outside the United States — who are deemed “victims” in the precise language contained in the official press release from the U.S. Attorney’s Office of the Southern District of New York on this date will be reimbursed IN FULL (emphasis mine). Moreover, the USDOJ should do everything in its considerable powers to ensure that all monies are returned as quickly as possible to all victims.
Las Vegas, Nevada
July 31, 2012
Writer’s Note: The opinions expressed here are my own and do not in any way reflect the position of any company, publication, website, or entity with which I have been associated.