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Revitalized online poker site Full Tilt Poker, which is now owned by PokerStars, has been granted an online gaming operator license by the Isle of Man Gambling Supervision Commission.
The license will allow Full Tilt to provide its poker services from the island when it re-launches on November 6th. When the site goes live, the company will repay $184 million that it owes non-US players who have had their funds frozen since the events of Black Friday.
Speaking about the licensing, Isle of Man Gambling Supervision Commission CEO Steve Brennan said: “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."
“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.”
Last month several pieces of hardware were moved from Full Tilt's headquarters in Dublin to the Isle so that the company would comply with the governing body's strict licensing requirements. Full Tilt has announced that its headquarters will remain in Ireland and operate as a different brand from parent company PokerStars.
Paul Telford, PokerStars Legal Executive also spoke out on the licensing, saying: “In our view the Isle of Man’s e-gaming regulations set the gold standard for the online gaming industry."
"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.”