Flutter Entertainment losing rehearing petition for Kentucky settlement
Flutter Entertainment has lost a petition seeking a rehearing to a 2020 verdict that ruled the company responsible for up to $1.3bn damages against The Stars Group.
Last December the Kentucky Supreme Court restored a $871m judgement against TSG with a compound interest rate of 12% per annum. The ruling is related to an original 2008 lawsuit that accused TSG of taking in $300m from Kentucky residents who played PokerStars from 2007 to 2011.
Flutter, which acquired TSG in 2019, said it will consider its legal options including potentially appealing the ruling to the US Supreme Court.
“Flutter remains confident that any amount ultimately paid to resolve this matter will be a limited portion of the reinstated judgment,” the company said. “Further announcements will be made in due course as and when appropriate.”
The Kentucky Supreme Court judgement was the latest turn in a long legal battle between the state and TSG.
In 2015 a circuit court judge imposed a $290m penalty on the operator. The sum was tripled under treble damages. Three years later, in December 2018, the Kentucky Court of Appeals ruled a complete reversal of the $870m settlement.
That ruling was then reversed by the state Supreme Court last year.
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