After a meeting of the minds today between federal prosecutors and three large Internet poker companies, the first step of actual progress has been made since the historic “Black Friday” over a year ago. In a settlement agreement with the Department of Justice, PokerStars agreed to pay the government $547 million dollars over the next three years.
Since PokerStars has acquired all the assets of Full Tilt Poker, part of that money will be used to reimburse former Full Tilt customers from the US, who were jilted out of $184 million when it was shut down by the DoJ.
Interestingly enough, the government stated the approved settlements (those between the government and Pokerstars, Full Tilt) do not constitute any admissions of liability, guilt, or wrong doing by the affected parties. Reaching the agreement, however, was crucial in the ability for Poker Stars to reenter the US market if (once?) laws are changed to make playing poker online legal.
U.S. Attorney Preet Bharara said in a statement that the settlement deals “will allow us to quickly get significant compensation into the victim players’ hands.”
As of this post, a settlement offer had not been approved between the US Government and Absolute Poker, the last of the “Black Friday” trifecta that was accused of laundering a large portion of its multi-billion dollar income through hundreds of non-existent online merchants. Read more about it in this Huffington Post article.
Yggdrasil intends to significantly expand access to its gaming library through a collaboration with well-known online casino and sports betting provider, Betway. According to the agreement, the supplier will provide its portfolio to the operator across various regulated markets, including the United Kingdom, Germany, which recently opened the market to licensed online casinos.
Relax Gaming (RG), one of the leading online casino providers, intends to expand its influence in the regulated iGaming market in Romania through an agreement with a new local operating brand, FavBet. The Romanian brand was founded in 1999 and has expanded its presence in various European markets. They are known for their sports betting solutions, however, it also provides a variety of online casino games, such as online slots, live casinos and more.
Kalamba Games, a Malta-based provider, recently increased its presence in the Italian market with the latest integration of its Bullseye Remote Game Server (RGS) popular Italian online gaming provider, BetFlag. According to the agreement, the Italian platform’s players will now have access to the proven popular Kalamba’s online slots, such as Finnegan's Formula, Age of Huracan, Joker and Blazing Bull series, and the other 60 games in its growing library.