The events of Black Friday were disastrous all round for the US online poker community at large, but none were so negatively affected as American members of the former Full Tilt Poker website (prior to its acquisition and renovation by PokerStars parent company, Rational Group). Because the company didn’t have enough money to cover player accounts, the US government was forced to initiate a remission process. That task was handed down to the Garden City Group (GCG), which is in the final phases of processing what amounted to around a hundred thousand player accounts worth millions of dollars. Unfortunately, according to the latest update, approximately 2,200 players are at risk of forfeiting their refunds.
On Monday, October 27th, a new missive appeared on the GCG’s website, FullTiltPokerClaims.com. The last update prior to yesterday’s was issued on September 25th, just over a month ago, when the GCG reported a round of roughly 600 payments made to affluent account holders, totaling $1.8 million. However, it was also noted that some players would not be receiving remission in that phase of the process.
Omissions included those who had received an email asking them to update their applications with accurate banking information, and those who had been issued a Unified Financial Management System Vendor Request Form due to an existing debt with the US Treasury Department. Former members of the online poker community who had received either notification were given until October 16, 2014, to make good on the request, but according to the new update, many failed to do so.
“GCG has identified certain Petitioners who previously confirmed their FTP Account Balance but who submitted incomplete or incorrect banking information or an incomplete or incorrect Social Security Number,” read yesterday’s update on FullTiltPokerClaims.com. “On October 25, 2014, GCG sent emails to more than 2,200 of these Petitioners with instructions on how to update and correct their Petitions through the online filing site.”
Fortunately for those among the 2,200+, the GCG has now extended the deadline to provide updated information and debt collection forms by another month. However, this may be the last chance FTP’s former US online poker players get to update their information and receive their due refunds.
“Please note that if we do not receive updated, complete and accurate information by November 24, 2014:
- Petitioners with incomplete or incorrect banking information will be sent a check to the mailing address provided with their Petition, should their Petition be approved.
- Petitioners with an incomplete or incorrect Social Security Number will have their Petition recommended for denial. As explained in FAQ Number 17 on this website, prior to the payment of funds to a Petitioner, GCG is required to provide the Petitioner’s Social Security or other Taxpayer Identification Number to the Government, in order to offset and collect any qualifying debts currently listed in the Treasury Offset Program.”
According to the remission website, a total of four payment distributions have been made up to this point. Approximately 33,500 players have received a total of $96.8 million, which averages out to $2,889.55 per player. By that estimation, there are still millions of dollars’ worth of funds potentially at the ready for the remaining 2,200 members of the former US online poker room.