U.S. Full Tilt Remission Process 80% Complete

Former U.S. Full Tilt poker players totaling more than 36,000 have now been made whole through the remission process, which takes care of 80% of the claimants.

A batch of payments to roughly 3,100 petitioners went out via ACH on March 31, putting another $2.5 million into the pockets of players. That was the fifth such distribution made by Garden City Group (GCG) since the process began by doling out $76 million on Green Friday on February 28, 2014.

All told, just short of $100 million has been reimbursed to ex-FTPers in the U.S. by the nation's top claims administration firm. An estimated 7,000 or so claimants are still waiting for their funds. In less than one week, that wait will have reached four years.

GCG's official FTP claims website provided a new update yesterday, revealing that more payments will be forthcoming after the remaining claims are properly reviewed. The majority of the petitioners still in the queue are those who claimed an account balance that did not jibe with that on record with the DoJ.

The disputed claimants are seeking funds either in amounts over $2,000, or between $500.01 and $2,000 wherein the amount in dispute is more than 20% of the difference.

Unfortunately, the GCG did not indicate when the review of the outstanding claims will be completed. Nor was it stated how many more waves of payments will be needed to close out the entire remission process.