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PokerStars Strikes U.S. Deal to Buy Full Tilt Poker

After months of legal battles, PokerStars is buying Full Tilt Poker, the site that owes players an estimated $300 million.
After months of legal battles, PokerStars is buying Full Tilt Poker, the site that owes players an estimated $300 million.Photograph by Michael Cogliantry/Getty Images

The world’s largest Internet poker company, PokerStars, announced on Tuesday that it has reached an agreement with the U.S. Department of Justice to acquire Full Tilt Poker, its beleaguered former competitor that owes players around the world hundreds of millions of dollars in payouts. The settlement is worth at least $731 million.

As part of the agreement, Isle of Man-based PokerStars will pay the U.S. government $547 million over three years, which will be used in part to reimburse former U.S. customers of Full Tilt Poker, whose accounts have been frozen for more than a year. PokerStars will also directly reimburse non-U.S. Full Tilt customers $184 million.