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The Stars Group Announces Complete Reversal of $870 Million Kentucky Judgment

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The Stars Group Inc. (Nasdaq: TSG; TSX: TSGI) today announced that the Kentucky Court of Appeals has ruled in its favor and reversed in its entirety the $870 million judgment issued against it by a trial court judge in December 2015. The Court of Appeals stated “[a]llowing a complaint, like the one put forth by the Commonwealth, to move forward would lead to an absurd, unjust result.”

“We applaud the decision of the highly-respected three-judge panel of the Kentucky Court of Appeals,” stated Marlon Goldstein, Executive Vice President & Chief Legal Officer of The Stars Group. “The merits of the case prevailed and we look forward to putting this matter behind us as we sharpen our focus on executing on our growth strategy going forward.”

The litigation that is subject to the appeal was initially filed by the Commonwealth of Kentucky in 2010, approximately four years prior to The Stars Group’s acquisition of the PokerStars business, and sought recovery of alleged losses by Kentucky residents who played real-money poker on PokerStars’ website during a period between 2006 and 2011. To bring the action, Kentucky relied on a centuries old statute that was intended to allow individuals who incurred gaming losses to bring an action against their winning opponents, but was never intended to authorize the Commonwealth to sue and collect such losses from the operator of the games for the Commonwealth’s own benefit.

As a result of the ruling, The Stars Group intends to petition for the release of the $100 millionsupersedeas bond posted by it to stay enforcement of the trial court’s order during the pendency of the appeals process, which includes$5 million in cash collateral and $65 million in letters of credit securing the same.

As previously disclosed, approximately $300 million continues to be held in an indemnity escrow fund established under the merger agreement governing The Stars Group’s acquisition of the PokerStars business. The Stars Group previously filed an indemnification claim relating to the Kentucky litigation, which is currently pending against the sellers of the PokerStars business, for all losses, costs and expenses related to the litigation. This claim and the release of the outstanding escrow funds will be resolved in accordance with the provisions of the merger and escrow agreements related to the acquisition. There can be no assurance that such claim will result in any amounts in the escrow fund or otherwise being remitted to The Stars Group or that any of The Stars Group’s estimates of potential losses will reimbursed by the sellers or otherwise.

The Stars Group expects the Commonwealth to either petition the Court of Appeals for a rehearing or seek discretionary review of the Court of Appeals decision by the Kentucky Supreme Court and intends to vigorously dispute any and all liability in the event the Kentucky Supreme Court grants review and hears the appeal.

About The Stars Group

The Stars Group is a provider of technology-based product offerings in the global gaming and interactive entertainment industries. Its brands have millions of registered customers globally and collectively are leaders in online and mobile betting, poker, casino and other gaming-related offerings.  The Stars Group owns or licenses gaming and related consumer businesses and brands, including PokerStars, PokerStars Casino, BetStars, Full Tilt, BetEasy, Sky Bet, Sky VegasSky Casino, Sky Bingo, and Sky Poker, as well as live poker tour and event brands, including the PokerStars Players No Limit Hold’em Championship, European Poker Tour, PokerStars Caribbean Adventure, Latin American Poker Tour, Asia Pacific Poker Tour, PokerStars Festival and PokerStars MEGASTACK. The Stars Group is one of the world’s most licensed online gaming operators with its subsidiaries collectively holding licenses or approvals in 21 jurisdictions throughout the world, including in EuropeAustralia, and the Americas. The Stars Group’s vision is to become the world’s favorite iGaming destination and its mission is to provide its customers with winning moments.


Source: Latest News on European Gaming Media Network

George Miller (Gyorgy Molnar) started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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UFC Champion Valentina Shevchenko Joins Stake as Global Brand Ambassador

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Leading betting platform Stake proudly announces that Ultimate Fighting Championship (“UFC”) Women’s Flyweight World Champion, Valentina Shevchenko, has signed on as a Global Ambassador for the brand.

One of the most iconic and celebrated athletes in combat sports, Shevchenko currently reigns as the UFC Flyweight World Champion and holds the coveted No. 1 spot in the UFC’s Women’s Pound-for-Pound rankings. A Muay Thai specialist from Kyrgyzstan, Shevchenko has dominated the MMA world since her UFC debut in 2015, and continues to build her legacy as one of the sport’s all-time greats. She will next defend her title on May 11 against top contender Manon Fiorot of France.

With this partnership, Shevchenko joins a championship roster of Stake ambassadors that includes UFC stars Merab Dvalishvili, Alexandre Pantoja, Max Holloway, Alex Pereira, and Israel Adesanya.

Speaking on the partnership, Shevchenko said:

“Stake has become one of the most important and exciting partners of the UFC, and I’m proud to now be a Global Ambassador for the brand. Stake is the home of champions, and I’m excited to work with its incredible team.”

Akhil Sarin, Chief Marketing Officer at Stake, added:

“We’re absolutely thrilled to welcome Valentina to the Stake family. It’s rare to see a true legend of the sport still performing at the absolute highest level, and we’re excited to build a long and successful partnership together.  We feel that the Stake brand is now synonymous with the UFC, and our relationships with the very best athletes in the sport helps us continue to grow in the MMA sphere.”

The post UFC Champion Valentina Shevchenko Joins Stake as Global Brand Ambassador appeared first on European Gaming Industry News.

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PRace launches as gambling industry’s first truly integrated B2B marketing agency

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Having already serviced 10 big-brand industry clients since 2024, Nicholas Brown and Aiste Garneviciene announce official launch

PRace, a new disruptor marketing agency focused exclusively on the B2B gambling industry, has today announced its official launch – bringing a transformative, data-driven approach to lead generation and sales.

PRace aims to revolutionise how B2B marketing is delivered by offering the first truly comprehensive and integrated service, with a core specialisation in data-driven lead generation and the creation of end-to-end sales funnels.

Leveraging deep industry expertise, PRace has already grown to a 15-person team of industry experts since its inception.

PRace’s approach fills a significant gap in B2B marketing left by its traditional competitor agencies, offering a serious competitive advantage for both PRace and its clients.

The agency was founded under the radar in 2024 by industry experts Nicholas Brown, formerly of Square in the Air, and Aiste Garneviciene, former COO of BetGames and SBC Leader of the Year 2020.

With Relax Gaming and Amelco as its founding clients, PRace now counts more than 10 top-tier industry brands in its portfolio – as well as approaching more than one million Euros in annual projected revenue.

Following today’s official launch announcement, the agency will be publicly announcing its leadership team in the coming weeks.

Commenting on the launch, Nicholas Brown, Co-Founder of PRace, said: “Having been in marketing since the early 2010s –and being instrumental in building the success of Square in the Air, I saw a clear opportunity to address a significant gap in the market alongside a fantastic friend and former client, Aiste Garneviciene.

“The B2B gambling industry is ripe for a more sophisticated, data-led approach to marketing that goes beyond traditional services. We’re here to deliver exactly what every other B2B marketing agency already does outside of our industry – using data-driven strategies to create demand, leads and sales.”

Co-Founder and CEO of PRace, Aiste Garneviciene, commented:As one of the founding team members of BetGames in 2012, I know firsthand what it takes to truly build and scale a brand. From establishing credibility and educating the market – to driving qualified leads and sales.

“Each stage demands a different strategy and PRace is the first agency that can deliver that. We’re bringing a fresh perspective, deep industry expertise and a proven methodology that’s already serviced 10 top-tier clients. If you’re ready to make marketing your biggest growth engine – get in touch!”

The post PRace launches as gambling industry’s first truly integrated B2B marketing agency appeared first on European Gaming Industry News.

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CopyBet reinforces its commitment to sports betting integrity via IBIA membership

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CopyBet has joined the International Betting Integrity Association (IBIA), increasing its integrity monitoring coverage in the UK and globally, covering current and future markets. The collaboration will enable integrity data from CopyBet’s online betting platform to be shared with IBIA’s global monitoring network, which includes over 80 companies and 140 sports betting brands monitoring over $300bn per annum in betting turnover.

Anton Ivanov, Business Development Director, CopyBet UK, said: “Responsible gambling, and looking after our customers, is part of our core values at CopyBet, and joining the International Betting Integrity Association will enable us to continue providing safe gambling conditions for our players. We look forward to working with IBIA and support its mission of protecting the integrity of the industry.”

Khalid Ali, CEO of IBIA, said: “IBIA is pleased to welcome CopyBet as our newest member to our growing association. This partnership strengthens our global monitoring network and reinforces our shared commitment to protecting the integrity of sport and regulated betting markets. We look forward to working closely with CopyBet to detect and deter betting-related corruption and to protect the integrity of the markets offered to consumers.”

CopyBet operates under the UK Gambling Commission Licence and Class B bookmaker’s licence in Cyprus, and is a unique bookmaker that allows customers to copy the bets of top tipsters alongside a traditional Sportsbook. CopyBet is the Official Front of Shirt Partner of Queens Park Rangers Football Club in the EFL Championship, as well as AEK Larnaca, PΑC Omonia 29M, Enosis Neon Paralimni, and Aris Limassol in the Cyprus First Division.

IBIA is a not-for-profit body that has no competing conflicts with the delivery of commercial services to other sectors and was established by operators, for operators, to protect regulated sports betting markets from match-fixing.

IBIA’s global monitoring and alert network is a highly effective anti-corruption tool, detecting and reporting suspicious activity in regulated betting markets. Through the IBIA monitoring network it is possible to track transactional activities linked to individual customer accounts. Additional functionality was added in 2024, with that technological upgrade enhancing the association’s ability to detect and report suspicious activity on its members’ betting markets.

The post CopyBet reinforces its commitment to sports betting integrity via IBIA membership appeared first on European Gaming Industry News.

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