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PokerStars to Compensate PKR Players

Written By: Maya Michaels | July 10, 2017 | Posted In Poker News

PokerStars, arguably the biggest online poker room with full international reach, announced through a press release they will reimburse all PKR player balances with no strings attached starting July 6, 2017.

Microgaming Poker Network suspended PKR on May 3, after the online poker site admitted it was facing severe financial difficulties due to which the site began a procedure that protects insolvent companies from going bankrupt.  Microgaming suspended PKR from offering deposits and games but refunding the players fell on PKR’s lap.

PokerStars will take the unprecedented step to refund the full account balances of the entire PKR base without reviving the PKR software platform. PokerStars will contact 60,000 players affected by PKR suspension and walk them through a relatively simple process that will result in their PKR funds becoming available in a PokerStars account.  Many PKR players already have PokerStars accounts but for those without a pre-existing PokerStars account will just need to create one but with no obligation to play with those funds. The funds will be available for withdrawal as soon as possible. The combined value of the bankrolls is standing at around $2 million.

Eric Hollreiser, Corporate Communications lead at PokerStar, said in a press release on the company website that the online poker giant opted for this move despite having no prior relationship with PKR simply because it is a right thing to do.

“We’re doing this because we think it’s the right thing to do for the poker world and to encourage others to join us in putting you, the player, first by segregating and protecting player balances from operating funds.

“PokerStars is proud that we’re in a position where we’re able to step in and help these players and encourage all companies in the industry to put players first.”

This industry leader PokerStars advocates for safe and sensible regulations and by all means teaches responsibility and sets example how to put the players first.

This is definitely fantastic news for the PKR players since PokerStars have stepped in to reimburse the funds after MPN Network suspended PKR two months ago. The online poker giant will surely benefit from the influx of new players since many of them have a positive view of PokerStars after the poker room saved them from their PKR misfortune.

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