Doyle has exit strategy

It seems as if Doyle Brunson has put together an "exit strategy" when leaving the US Market. Those who have an account balance at his poker room will have their balance transferred directly to Full Tilt Poker (see below for the email from Doyle's Room).

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19 February 2007

Dear DoylesRoom Player,

This email is intended solely for US-based players at DoylesRoom.com. Please ignore this communication if you are based in any other country.

In view of the passage of the Unlawful Internet Gaming Enforcement Act (“UIGEA”) and the cessation of operations by Neteller and other payment processors, the management of the Doyle Brunson Poker Network (“DBPN”) has reluctantly decided not to permit online real money play by US-based players. We know this will come as a disappointment to you but we have taken the view that the most prudent course of action at this time to ensure the security of player funds is to conduct an orderly withdrawal from the United States market.

Effective immediately, US online poker players will not be permitted to sign up for real money play or deposit funds into existing accounts. Commencing March 1, 2007, all US play on DoylesRoom.com will be blocked and US players will be able to access only the withdrawals page.

You may withdraw your funds at any time or, should you wish to enjoy uninterrupted play, we are pleased to announce that Full Tilt Poker has agreed to accept direct transfer of your account balance. This will give you the opportunity to earn a signup bonus of up to $600 and use your action point balance on their site (terms and conditions apply, see below). This account transfer option will be simple, immediate, and allow you to take advantage of Full Tilt Poker’s wide range of games and tournaments. The transfer feature is available now.

DBPN assures all its players that their funds are safe but in view of the likely demands on our processing staff in the forthcoming weeks, cashouts may take a little longer than usual to process. We ask that players wishing to withdraw their funds be patient.

DoylesRoom.com will continue to serve non-US players and will increase its focus on Canada, Europe and Asia-Pacific.

We share your disappointment with this news and sincerely apologize for any inconvenience.

Thank You,

The Management
Doyle Brunson Poker Network

Full Tilt Poker is offering a signup bonus of 100% of transferred money up to a maximum of $600. To be eligible for the sign up bonus, players must be making their first deposit on Full Tilt Poker and a minimum balance transfer of $45 is required.

Action Points (“APs”) will be converted to Full Tilt Points (“FTP”) within 7 days of account transfer. Conversion rates as follows:

Doyle’s Club: 4 APs = 1 FTP
VIP: 6 APs = 1 FTP
Other tiers: 12 APs = 1 FTP

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