According to an update from the Garden City Group, 80% of the Full Tilt Poker petitions filed by former American customers of the site have now been paid.
The news comes with the announcement from the GCG of the most recent round of FTP payments, some $2.5mm distributed to over 3,100 petitioners.
It also comes within days of the fourth anniversary of online poker’s Black Friday.
The total will never reach 100% of petitions, as some classes of petitioners were deemed ineligible.
It’s unclear if the GCG is counting petitions that were processed but had payments diverted to the Treasury Offset Program.
It’s also unclear if by 80% the GCG means: a) of total number of petitions or b) total dollar value of petitions filed.
I emailed GCG with a request for clarification on both points.
In any case, the petitions that remain to be reviewed are all “disputed petitions” – meaning the petitioner did not agree with the balance provided by the GCG – that are:
We’re still likely talking about several million dollars in contested funds, although an exact figure is not available.
Per updates provided by the GCG:
The totals: $99.3mm in payments spread out over 36,600 payments.