Online Poker

Absolute Poker and UB Reach Deal with DOJ

by Omar

The loud noise you may have just heard if you were standing near an open window is a collective sigh of relief coming from the US-based customers of Absolute Poker and UB.com.  It was just announced that the online poker entities, previously the 3rd and 4th largest online poker sites in the world have reached a long anticipated compromise with the United States Department of Justice.

For the past few weeks since what is known in the industry as Black Friday, the day the Federal government seized the domain names of the four top online poker sites, the funds of US players have remained in limbo with no one having any idea when the money would be available to be paid out.

Though the agreement marks a vital first step towards ultimate resolution of the matter, players should be warned that their checks are not quite in the mail just yet. In a joint statement released by the two sites, they say,

“Absolute Poker has 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 U.S. This provision is an important step to returning U.S. player funds. Unfortunately, the Company still faces several legal issues which must be navigated before funds can be paid out to U.S. players.”

Although the end of the statement invariably leads to more questions than concrete answers regarding potential cashouts, players should take solace in the fact that this is an important first step in the process.

Later in the prepared statement, the sites’ state,

“Today’s signing of the agreement with the DOJ is an important step towards the safe and efficient return of funds to our U.S. players. We can now move as expeditiously as possible to establish proper mechanisms for the return of funds to our U.S. players. Blank Rome LLP will continue to engage in discussions with the SDNY in order to complete the necessary agreements for the final transfer of balances to our U.S. players. This remains our highest priority. We will continue to update our players and the poker community, as we move forward to resolve outstanding issues.”

At the very least, progress is finally being made on behalf of players and their hard earned money.

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