Absolute Poker To Surrender Assets To U.S.

This story was published more than 11 years ago.

Amid all of the news of fellow poker firms Full Tilt Poker and PokerStars reaching deal with the U.S. government, fellow poker company Absolute Poker also announced that it has struck a deal with the government which will see it forfeit their assets.

Jerry Bernstein, a legal representative for Absolute Poker said in a statement that "Our hope and expectation is that the proceeds of the forfeiture will be used to repay our players".

The list of companies named in the settlement agreement between Absolute Poker and the US Attorney's Office in New York include: Absolute Poker, Ultimate Bet, Absolute Entertainment, S.A., Blanca Games, Inc., Hoop & Javelin Holdings Limited, Hoop Payment Solution Services Ltd., and Morning Bliss Overseas Ltd.

As part of the deal, the U.S. government will drop its civil money laundering charges against Absolute Poker with prejudice, meaning that it cannot sue Absolute Poker again for the same issue. For its part, Absolute's transferring of its assets to the government is not an "....admission of culpability, liability, or guilt on behalf of the Absolute Poker Group.”

The government has stated that it will likely liquidate Absolute Poker's assets and will entertain claims by players that are owed money and other various parties.