Full Tilt Poker Granted Online Gaming License From Isle of Man Gambling Supervision Commission
DUBLIN, October 9, 2012 /PRNewswire/ --
FullTiltPoker.com set to re-open November 6
The Rational Group today announced that the Isle of Man Gambling Supervision Commission has granted a licence that will allow Full Tilt Poker to provide online poker services from the Isle of Man. In August of this year, Rational Group, which also operates PokerStars, the world's largest online poker site, acquired the assets of Full Tilt Poker. PokerStars has operated under an Isle of Man licence since 2005.
Rational Group will re-launch FullTiltPoker.com on November 6 and has committed to reimburse $184 million to former Full Tilt Poker players who lost their funds when the previous owners ceased operating the site in June 2011. The re-launch has been eagerly awaited by many former customers who enjoyed playing on a site known for its innovative software, game design and appeal to many of the best-known poker players in the world.
Full Tilt Poker was granted the Isle of Man licence following thorough scrutiny of the proposed operations by the Gambling Supervision Commission (GSC). In addition to ensuring the operation would be able to meet and comply with the Isle of Man's rigorous standards, the GSC was particularly interested in reviewing the senior management structure that will oversee the operations.
Steve Brennan, Chief Executive Officer of the Isle of Man Gambling Supervision Commission, said Full Tilt Poker's application was assessed and approved on its own merits, but added that the regulator's positive experience with PokerStars management team and the company's track record of compliance added strength to the licence application.
"The Gambling Supervision Commission is confident that Full Tilt Poker will safeguard the interests of its players and adhere to the strict policies and procedures governing Isle of Man licensed gaming companies," Brennan said. "Full Tilt Poker's application was strengthened by the fact that their new owners and management team are known to us and have an impeccable record of compliance with the Isle of Man's regulatory requirements."
Rational Group General Counsel Paul Telford underscored the Isle of Man's industry leading regulations when explaining why the Rational Group had moved the operations from Alderney to the Isle of Man. "In our view the Isle of Man's e-gaming regulations set the gold standard for the online gaming industry. Their attitude toward ensuring operators provide a service that is safe, fair and socially responsible is second to none. In particular, the Isle of Man leads the way in ensuring player funds are protected under mandatory trust arrangements that are built into their regulations."
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About The Rational Group
The Rational Group operates gaming and related businesses and brands including PokerStars, Full Tilt Poker and the European Poker Tour. These brands collectively form the largest poker business in the world comprising online poker games and tournaments, live poker competitions, and poker programming created for television and online audiences.
Rational Group's businesses are among the most respected in the industry for delivering high-quality player experiences, unrivaled customer service, and innovative software. The Group employs industry-leading practices in payment security, game integrity, and player fund protection. The Rational Group holds more online poker licenses than any e-gaming company and works closely with regulators around the world to help establish sensible global regulation.
About Full Tilt Poker
FullTiltPoker.com is a leading poker brand known for delivering the most authentic online poker experience in the world. Full Tilt Poker's innovative software, game design and game play make it the online home for serious poker players.
Full Tilt Poker is being re-launched in November 2012 by The Rational Group, which also operates PokerStars, the world's largest online poker site. Full Tilt Poker plans to operate globally under license from the Isle of Man, which provides rigorous regulatory oversight and deploys the best practices in ensuring player fund protection and the security and integrity of online poker.
SOURCE Full Tilt Poker