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PokerStars settles, acquires FTP

Updated: July 31, 2012, 5:25 PM ET
By Gary Wise | Special to ESPN.com

Online poker operator PokerStars has reached a settlement with the U.S. Department of Justice to obtain control of former industry rival Full Tilt Poker for approximately $731 million, according to government documents.

According to the documentation, PokerStars will forfeit $547 million to the government, while Full Tilt Poker will forfeit virtually all of its assets to the goverment, which will in turn give those assets to PokerStars.

Under the terms of the PokerStars ...

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