Prosecutors Reach Deal with Internet Poker Companies

Authorities say federal prosecutors have reached settlement deals with three Internet poker companies, under which more than a half billion dollars will be paid to the government.

That will allow U.S. poker players to recover more than $160 million that was lost when the companies shut down U.S. operations last year.

A judge in New York approved settlement agreements with PokerStars and Full Tilt Poker. A separate agreement involving a third company, Absolute Poker, hadn't yet been approved by the court.

PokerStars says its deal calls for it to pay $547 million over three years, with some of the money being used to reimburse former U.S. customers.

The U.S. operations of the companies were shut down when the government last year brought criminal charges against various poker company executives and those who helped the companies process money.

(Copyright 2012 by The Associated Press.  All Rights Reserved.)