Poker site takeover saves 200 jobs

The future of 200 jobs at Full Tilt Poker in Dublin has been secured following a takeover of the online gaming site by rival PokerStars.

The head of corporate communications for PokerStars, Eric Hollreiser, confirmed they would continue to operate Full Tilt Poker from the current site in Cherrywood.

“When we do take over Full Tilt we will continue to operate it out of Dublin. In the near to medium term we expect there to be growth in the Dublin office,” he said

Mr Hollreiser said PokerStars will operate Full Tilt as a separate entity, and that there would be a number of positions opening up in software engineering, marketing, and backroom supp-ort roles in the near future.

Full Tilt Poker was operated by Dublin-based Pocket Kings until the website was suspended from trading and accused of operating a global Ponzi scheme by Manhattan prosecutors.

The massive fraud complaint against Full Tilt was settled in a move that will see Isle of Man-based PokerStars forfeit €594m, including €444m that will be used to reimburse US customers of Full Tilt Poker.

Prosecutors said both companies had used false billing codes to deceive banks that would not process gambling transactions, and they said Full Tilt had devolved into a “global Ponzi scheme,” with the big-name players and other owners pocketing hundreds of millions of dollars that were owed to players.

Prosecutors accused Full Tilt of lying when it told customers that their accounts were “segregated and held separately” from the company’s operating funds. In the end, it owed more than it could repay without a sale.

Mr Hollreiser said it was too early to discuss the plan for rebuilding the Full Tilt brand.

“It’s too early to begin disclosing many details about our strategic plans for Full Tilt, but our first order of business is to re-open the site, pay back all of the players and begin rebuilding Full Tilt’s reputation. Going forward, we will operate Full Tilt as a separate brand, giving players another leading and trusted platform to enjoy the game.

“The re-launched Full Tilt site will bring back the innovative features, the authentic poker and the cutting-edge software that made it so popular with millions of players worldwide.”