ABSOLUTE POKER REACHES AGREEMENT WITH US DOJ


PokerStars and Full Tilt Poker in reaching an agreement with the United States Attorney's office


THE LATEST IN the fallout from 'Black Friday" has seen Absolute Poker follow in the wake of PokerStars and Full Tilt Poker in reaching an agreement with the United States Attorney's office for the Southern District of New York (SDNY), although the agreement will not facilitate the return of any domain names.

An official statement from Absolute Poker said that it had "reached an agreement with the United States Attorney's office for the Southern District of New York. Under the agreement, the US Attorney's Office has agreed to provide all necessary assurances that third-parties may work with Absolute Poker to facilitate the return of funds to players located in the US. Tins provision is an important first step to returning US player funds."

The news follows an announcement from Blanca Games, operator of Absolute Poker and Ultimate Bet, that confirmed the cessation of all US-facing operations as the company undergoes a restructuring process that will see the liquidation of its workforce, and the rehiring of around a fifth of staff in key positions.

The company stated that it had notified the SDNY of the closure of its US businesses and, as such, had "not requested the return of its worldwide domain names, www. AbsolutePoker.com, www. UltimateBet.com and www.UB.com, and today's agreement does not provide for their return."

Accompanying the statement declaring the closure of US operations, a company spokesperson said: "We regret that we have been compelled to take these actions. We have worked tirelessly to create a truly amazing company that is filled with extraordinary people. We have always been and still remain fully committed to our employees and players. At the same time, we are confident that this restructuring will strengthen the company and its future."

However, because the company still faces several legal issues unsealed in the indictments, player funds will not actually become available for immediate withdrawal, the company asserting that the agreement with the DoJ had allowed them to "move as expeditiously as possible to establish proper mechanisms for the return of funds to our US players."
 
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