Absolute Poker and sister site Ultimate Bet shut down during 2011’s Black Friday, leaving members without access to their accounts and cash therein. Over the past few months, the Garden City Group has served as claim administrator to handle the payment process for former members of both sites. A third round of payments has now been approved, with around 450 petitioners expected to be paid.
According to the Garden City Group, $1.08 million will be paid during this round with payments made vai electronic ACH check to those in the US and foreign currency check to players located outside the United States. If a foreign currency check cannot be provided, a foreign currency wire or USD check will be sent.
The Garden City Group is working on emailing players in this group of payments. Individuals who filed a claim can check absolutepokerclaims.com to learn more about updates regarding payments.
The process of remission payments began back in August when close to 7,400 players were paid close to $33.5 million. Soon after, a second round of payments were provided, this time equaling a much lower amount of $3.7 million.
Absolute Poker launched in 2003 and was able to earn close to $500 million during its time in the online poker industry. When the site was shut down, around $60 million of player funds was lost. The government of the United States was able to gain enough funds during settlements from Black Friday which is helping to repay players.
PokerStars and Full Tilt Poker were involved in Black Friday as well with around $118 million provided to former customers of Full Tilt Poker via a different remission process. The Garden City Group also acted as the claims administrator for Full Tilt, helping players to file claims and receive funds.
This 3rd round of payment for former members of Absolute Poker and Ultimate Bet are being provided to those who took part in the September 7th 2017 filing deadline.
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