A statement has been released by PokerStars where the site highlighted how it handles players’ funds. This has been done primarily to assure PokerStars players of the security of their real money accounts.
The Alderney Gaming Control Commission (AGCC) on the other hand, attempts to review the actions taken against Full Tilt Poker which led to the suspension of the site’s license.
Eric Hollreiser Claims that PokerStars makes Sure its Players’ Funds are Safe
Eric Hollreiser, the Corporate Communications Head of PokerStars stated that the poker room makes sure that players are not exposed to risks due to the delays on the part of payment solutions providers to process transactions. The risks associated with such delays are handled by PokerStars itself. This is practiced by other prominent poker rooms in the industry as well, according to Hollreiser.
To meet the requirements of its licensor, PokerStars maintains operational funds in separate accounts and does not take money out of players’ accounts. The licensor of Full Tilt Poker, AGCC, doesn’t have a policy which requires its licensed sites to maintain players’ money separately from operational funds. This is the key reason why Full Tilt Poker faced problems in paying back its players.
Alderney Gaming Control Commission to Launch a Review of Full Tilt Poker
In a recent statement, the AGCC announced that it will be launching a review of Full Tilt Poker. The commission will review the processes which led to the suspension of Full Tilt’s licenses. The decision has been taken by AGCC so that transparency is maintained regarding the actions taken against Full Tilt Poker.
Full Tilt Poker had its license suspended on September 29th this year. The poker room still owes about $330 million to its former players. The AGCC stated that the poker room reported non-availability of funds due to issues with payment processors. The commission, instead of auditing the poker site, considered the details provided by the site’s accounting department to be accurate. In its new review report, the AGCC aims at focusing on the fairness and appropriateness of its actions.
The executive director of AGCC, André Wilsenach stated that the AGCC decided to discharge its statutory obligations fully on realizing that irregularities exist with regard to Full Tilt’s operational integrity. The actions taken by AGCC in Full Tilt’s case have been appropriate according to Wilsenach. However, since a few third party organizations raised questions, AGCC realized that it is best to independently review Full Tilt Poker and disclose the outcome publicly.
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