SBR Newsbite: Full Tilt Poker update

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Another former Full Tilt Poker executive is out on bail. Nelson Burtnick had to fork over $500,000 while he awaits trial in connection to the Black Friday online poker crackdown in the US. Burtnick is a co-defendant with former CEO Raymond Bitar. SBR reported on July 31st that online poker giant PokerStars acquired Full Tilt Poker as part of their settlement with the US DOJ.

Former Full Tilt accounting executive Nelson Burtnick is out on $500,000 bail. Burtnick has been charged as a co-conspirator with CEO Raymond Bitar, who turned up in Manhattan Federal Court earlier this month to face the charges against him. Bitar was forced to pony up $2.5 million for his bond.

Both men allegedly deceived financial institutions and violated the UIGEA by masking millions of dollars in illegal gambling proceeds over a five-year period. Aside from the public shame, hit to the wallet and potential jail-time, the disgraced executives are also forbidden from being part of PokerStars following the Full Tilt bailout.

PokerStars meanwhile is keen to parlay their white-knight acquisition into more global dominance of the online poker market. As part of the settlement agreement with the US DOJ, PokerStars is free to apply for licensing deals in the US as more states look to offer internet poker games. Could we see PokerStars famed logo pop up in the Sin City? Only time will tell, but be sure to stay tuned for this and more updates.

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