PokerStars has released a statement, in which it has revealed details of how it manages players’ funds to assure its loyal real money players that their funds are indeed safe. On the other hand, the Alderney Gaming Control Commission (AGCC), which recently revoked Full Tilt Poker’s licenses, has decided to launch a review of Full Tilt Poker.
Eric Hollreiser, the corporate communications head at PokerStars, says that the online poker room goes the extra mile to ensure that its loyal players do not have to face any risks caused by delays by online payment processors to process funds. Instead, PokerStars absorbs all the risks associated with such delays.
According to Isle of Man, the licensor of PokerStars, the online poker room is required to maintain player funds and operational funds separately and not mix the two. PokerStars follows this rule to the letter. On the other hand, AGCC, the one-time licensor of Full Tilt Poker, does not have such a requirement, owing to which Full Tilt Poker was not able to refund its players as quickly as PokerStars was able to do.
In the meanwhile, the AGCC has issued a release stating that it will soon launch a review of Full Tilt Poker, which includes a review of the various processes that caused the suspension of its licenses. The objective is to maintain transparency with regard to the actions it recently took against Full Tilt Poker.
On September 20, 2011, the AGCC suspended Full Tilt Poker gaming licenses. The online poker room has not yet refunded its players, an amount that comes up to $330 million. According to AGCC’s statement, the online poker room had claimed that it had no funds owing to problems with various online payment processors. The AGCC did not audit the site, but considered all the financial details furnished by its accounts department to be 100 percent accurate. The AGCC intends to publish a review in which it wants to convey that it was fair and appropriate in the actions it took against the online poker room.
AGCC Executive Director Andre Wilsenach says that the AGCC decided to launch a Full Tilt Poker review having fully understood that the operation of Full Tilt Poker was fraught with irregularities. Although Wilsenach feels that the AGCC has done the right thing regarding Full Tilt Poker, he says that an independent review of the poker site is essential owing to certain third-party questions.