Full Tilt Poker Receives Isle of Man Operating License; Relaunch Set for Nov. 6, 2012
On Tuesday, the Rational Group announced that Full Tilt Poker has been granted a license by the Isle of Man Gambling Supervision Commission (GSC), allowing the company to provide online poker services from the Isle of Man. The Rational Group, which operates PokerStars and , acquired the assets of Full Tilt Poker in August and will relaunch Full Tilt Poker on Nov. 6 and repay its non-U.S. customers $184 million.
According to a press release from the Rational Group, Full Tilt Poker was granted the Isle of Man license following "thorough scrutiny of the proposed operations by the Gambling Supervision Commission." The GSC says it was also was extremely interested in reviewing the senior management structure that will oversee Full Tilt Poker's operations.
“The Gambling Supervision Commission is confident that Full Tilt Poker will safeguard the interests of its players and adhere to the strict policies and procedures governing Isle of Man licensed gaming companies,” said Steve Brennan, CEO of the Isle of Man Gambling Supervision Commission. “Full Tilt Poker’s application was strengthened by the fact that their new owners and management team are known to us and have an impeccable record of compliance with the Isle of Man’s regulatory requirements.”
Full Tilt Poker was previously regulated by the Alderney Gambling Control Commission, which stripped the online poker site of its operating license on June 29, 2011. Last month, approximately 30 tons of Full Tilt Poker hardware was transported by military plane from Dublin to PokerStars' headquarters on the Isle of Man. While Full Tilt's headquarters will remain in Dublin, its servers must be located in the Isle of Man in accordance with Isle of Man regulations.
“In our view the Isle of Man’s e-gaming regulations set the gold standard for the online gaming industry," said Rational Group general counsel Paul Telford. "Their attitude toward ensuring operators provide a service that is safe, fair and socially responsible is second to none. In particular, the Isle of Man leads the way in ensuring player funds are protected under mandatory trust arrangements that are built into their regulations.”
PokerNews will provide ongoing coverage of this story leading up to Full Tilt Poker's relaunch on Nov. 6. Follow PokerNews on Twitter for up-to-the-minute news.