Garden City Group Promises FTP Repayment Process to ‘Begin Shortly’

Players waiting for money Full Tilt Poker may not have to wait much longer.

Players waiting for money Full Tilt Poker may not have to wait much longer.

If you’re one of the thousands of American players waiting for some good news about the repayment of funds from Full Tilt Poker then you might want to keep reading.

Late Thursday night Garden City Group, the company hired to act as Claims Administrator for the repayment of U.S. based Full Tilt Poker players, posted an update on FullTiltPokerClaims.com that indicated the wheels are now in motion to get money back to players. The key phrase in the statement that has many online poker grinders excited was, “The claims process will begin shortly”.

No further details on the next steps of the process were released but players waiting to hear from GCG should keep an eye on the email associated with their Full Tilt Poker account. Instructions on how eligible parties will receive their funds will be sent via email according to Thursday’s update.

Another big piece of the puzzle which GCG provided clarification on Thursday was the calculation formula which will be used to determine how much players are owed. GCG will use players balances as of April 15, 2011 as the basis for paying players back. Since the DOJ settlement with PokerStars was announced in July 2012 players have feared that the DOJ may simply use total deposits as the determining factor, rendering all profits useless. Thankfully that does not appear to be the case.

 

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Lance Bradley

Editor in Chief at BLUFF.com
Editor in Chief: Lance Bradley began working with BLUFF in March 2008 and was named Editor in Chief in August 2009. Prior to joining BLUFF Bradley launched an independent poker blog, ThePokerBiz.com in 2006. Before entering the world of poker media he was the Poker Room Manager for Bodog from January 2004 until June 2006. He graduated from the Applied Journalism program Kwantlen Polytechnic University in Vancouver, Canada.
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