PokerStars Launches Corporate Blog
December 5, 2011
The new PokerStars corporate blog has recently been launched which promises to keep the public informed about current news, updates, and views on the business and the industry with posts from all types of PokerStars employees including customer service reps, product managers, software engineers, as well as PokerStars executives. Being introduced at the cusp of the company’s 10th anniversary (on December 18th PokerStars will turn 10), the PokerStars corporate blog will open up the company to the public, after keeping a rather low corporate profile in the past. It will show how the company will evolve to the next phase of growth as the Internet poker industry goes through changes.
In the inaugural post, Eric Hollreiser, Head of Corporate Communications, writes about the company’s dedication to the business. He says, “During our first decade, we kept a fairly low corporate profile; preferring to keep our heads down, our eyes focused on innovation and our ears tuned-in to the hops and concerns of our growing number of customers. That dedication has helped us become the leading poker company in the world and helped us set the standard in delivering customer service to online poker players.”
He goes on to explain how the PokerStars brand will from here on out be more transparent in an effort to better communicate with “customers, communities and constituencies who often have questions about us” now that the industry is and will continue to be changing so much in the future.
Hollreiser then goes on to answer one of the most frequently asked questions of PokerStars corporate regarding how the company maintains player funds and accounts. Mentioning Full Tilt’s inability to pay players after Black Friday, he says that this has been a key concern for PokerStars. He then sheds light on what he can without legal limitations.
First, he explains that real money player funds are kept in a separate account from operational funds, describing it as a “wise and conservative business strategy” that allowed for a higher level of customer service. Furthermore, PokerStars’ license is with the Isle of Man Gambling Supervision Commission (GSC), which requires the strictest in gold standard regulation. Player-owned funds, both deposits and winnings, are protected from operating funds and held in segregated bank accounts.
Another method of protecting player funds that PokerStars uses to ensure players can always access their money whenever they want to is by insuring player funds when payment processors delay monies, sometimes up to a few weeks. To keep this issue from affecting players, PokerStars makes daily transfers from the operating accounts to the segregated player accounts, so that the player never has to wait and the company takes on the risk of the delay. And this process is all scrutinized by the regulators that license the online poker site, so it’s all on the up and up.
On a daily basis, the Treasury Department reviews player transactions to ensure that there is more than enough to cover player balances. And this is all reviewed by regulators, and the Isle of Man GSC, which has the power to audit at any time.
And in closing, Hollreiser says, “It’s these kinds of protections that have enabled us to refund more than US$125 million to US players since April 15.”
Further posts on the PokerStars corporate blog will no doubt be interesting to read.
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