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Investor files case against esports gambling startup Unikrn

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John Hastings, a resident of Las Vegas and one of the investors of Unikrn, a Seattle-based esports gambling startup, has sued the company for violations in securities law in connection with the sale of its cryptocurrency, UnikoinGold. The start-up has the backing of some big names like Ashton Kutcher and Dallas Mavericks owner Mark Cuban.

Unikrn launched its cryptocurrency UnikoinGold, based on the Ethereum blockchain network, last September.  It is marketed as the chosen currency to be used on the Unikrn gambling platform, which allows users to bet on esports titles such as League of Legends, Dota 2, Counter-Strike: Global Offensive and more. During that September offering, Las Vegas resident John Hastings purchased UnikoinGold tokens with 10 Ethereum, worth approximately $2800 at that time.

Hastings filed suit Monday in King County, Washington, against Unikrn, a Bermuda-registered subsidiary of the company and its founders, former Microsoft Ventures general manager Rahul Sood and Karl Flores. In the suit, Hastings is seeking class-action status for all purchases of UnikoinGold. In a statement to GeekWire, Sood acknowledged the lawsuit and said Unikrn has retained Seattle-based law firm Perkins Coie to “vigorously defend” the company.

Hastings argues that statements made by Sood and other Unikrn staff contradict the assertion that UnikoinGold was intended to be used as a method to participate in the Unikrn gambling platform. Hastings alleges that the continuous offering of these tokens to the public, the alleged intent for purchasers to resell them at a later date and a private presale to accredited investors before the coin was offered to the public constitute an investment and that the company thus violated Securities and Exchange Commission regulations.

“Defendants have crafted a flimsy facade that UKG Tokens are not securities by claiming they are utility tokens,” Hastings alleges in the complaint filing, which was obtained by ESPN. “In reality, the UnikoinGold ICO was an offer and sale of securities. Indeed, it is evident that investors were purchasing UKG Tokens with the expectation that those tokens would increase in value and become worth more than the virtual currencies invested.”

In the suit, Hastings also cites an SEC investigative report released in July that states the cryptocurrency DAO Tokens were subject to federal security laws. Hastings argues that the case made by the SEC in the ruling against DAO applies to Unikrn and UnikoinGold.

At the time of the September initial coin offering, Unikrn Bermuda Ltd. filed a notice of exempt offering of securities with the SEC, stating that it offered $20 million and as of Sept. 19 had sold $16.02 million of those shares. UnikoinGold was first listed at 30 cents per token when the initial coin offering launched in September; it now rests at just under a nickel.

In October, Unikrn announced it had raised 112,720 Ethereum, worth approximately $31 million at that time, in a two-phase UnikoinGold initial coin offering that spanned 112 countries. Among the participating buyers in the first phase, an exclusive presale, were Cuban and Ethereum co-founder Anthony Diiorio.

Unikrn launched in November 2014 as one of the first regulated esports gambling sites. In June 2015, Unikrn raised $10 million from Cuban, Kutcher, Binary Capital and a number of high-profile investors. In May, Cuban told ESPN that Unikrn would “benefit significantly” from the U.S. Supreme Court’s decision to allow states to legalise sports gambling.

Unikrn has continued to expand its presence across the world. In December, it signed a partnership deal with MGM Resorts International to run esports tournaments in Las Vegas. It also is a shareholder in Berlin International Gaming, a professional esports team with a large foothold in Counter-Strike: Global Offensive.

 

Source: espn.com


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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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Legends Collide and the Stage Ignites at Red Bull League of its Own 2025, Munich

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Everything you need to know ahead of Saturday 29 November, when Red Bull’s one-of-a-kind League of Legends tournament ‘Red Bull League of Its Own’ is set to make its grand return.

Taking place in the iconic SAP Garden in Munich, reigning champions and esport titans T1, along with some of Europe’s most celebrated teams – G2 Esports, Karmine Corp, NNO Old and Los Ratones, will go head-to-head in an unmissable end-of-year showdown.

Red Bull League of Its Own 2025 is set to light up Munich’s SAP Garden, turning the state-of-the-art arena into an electrifying esports stage in the heart of Olympic Park. 11,500 fans will fill the stands, with countless more watching online, as international icons and Europe’s elite face-off in this year’s ultimate League of Legends clash. Red Bull League of Its Own is all about pushing the action to the limit, delivering high-energy matchups, unexpected twists, and the possibility of mixed rosters that keep every game fresh. All matchups will be played in a Ultimate Fearless best-of-1 format, keeping every game high-stakes and unpredictable.

The 2024 Red Bull League of Its Own delivered an unforgettable spectacle in Paris’ Accor Arena as T1 swapped roles, Los Ratones stunned after causing an upset, and Rekkles made a triumphant reunion on stage. This year’s edition aims to raise the bar even higher, promising elevated competition and moments that will captivate the global League community once again.

Returning as the official Monitor Partner for 2025, AGON by AOC will once again deliver high-performance gaming monitors to ensure contestants get the ultimate gaming experience. Razer makes its debut as the official Chair Partner of Red Bull League of Its Own, bringing the Razer Iskur V2 – an ergonomic chair built for comfort, durability, and focus – to keep players at their best throughout every match. MSI also joins as the official Gaming PC and Laptop Partner, while KFC comes on board for the first time as an event partner.

With record viewership last year, Red Bull League of Its Own 2025 promises unforgettable clashes, daring strategies, and moments fans will talk about long after the final match.

See below for full event details, timings, and where to watch.

Schedule:

  • -15:00 CET – Opening Ceremony
  • -15:15 CET – G2 Esports vs NNO Old
  • -16:00 CET – Los Ratones vs Karmine Corp
  • -17:00 CET – G2 Esports vc Karmine Corp
  • -18:00 CET – T1 vs Match 3 Winner
  • -19:00 CET – T1 vs NNO Old
  • -20:00 CET – T1 vs Los Ratones

Talent:

  • -Eefje “Sjokz” Depoortere – Host
  • -Keltoum “Giniro” Baddaje – Host
  • -Robert “Dagda” Price – Caster
  • -Aaron “Medic” Chamberlain – Caster
  • -Joe “Munchables” Fenny – Caster
  • -Daniel “Aux” Harrison – Caster
  • -Jona “JustJohnny” Schmitt – MC
  • -René “MasterPlay” Geigenberger – MC

On-Site Streamers:

  • -Caedrel
  • -Kameto
  • -NNO Old (NoWay, Tolkin, Agurin, Karni, and Broeli)
  • -Ilha das Lendas (Baiano, Tay, Brucer, and Pedro Bosco)

Where To Watch:

  • -Fans can tune in to Red Bull Gaming’s YouTube and Twitch channels at 3 PM (UTC+1).
  • -YouTube: youtube.com/live/mNV9ZU_YunA
  • -Twitch: twitch.tv/redbull

 

The post Legends Collide and the Stage Ignites at Red Bull League of its Own 2025, Munich appeared first on European Gaming Industry News.

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1xBet Becomes the First Official Betting Partner of MIBR’s VALORANT Team

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1xBet has signed a partnership with the VALORANT roster of esports powerhouse MIBR, becoming the first-ever official betting partner in the Riot Games ecosystem.

Under this partnership, 1xBet and MIBR will focus on creating a new, immersive fan experience, strengthening the team’s global fanbase, and boosting overall engagement with VALORANT.

MIBR’s VALORANT roster currently includes players from the United States and Brazil. Over the past few years, the team has been a regular competitor in VCT Americas, and in 2025 they qualified for VALORANT Masters Toronto — the only Latin American team to do so. Later that year, MIBR also earned a spot at VALORANT Champions 2025, finishing in the Top 5 worldwide.

Beyond their esports success, MIBR continues to expand its media presence through collaborations with leading Brazilian influencers such as Sacy, producing original entertainment content, and hosting watch parties during major tournaments — all helping the organization remain one of the most talked-about and fan-favorite names on the regional scene.

Among the team’s stars is Erick ‘Aspas’ Santos, widely regarded as a VALORANT legend in Latin America. In 2025, he set the VCT Americas record for the most kills in a BO3 series and became the first player in VALORANT Champions history to surpass 1,000 kills across tournaments (2022–2024). Outside of competition, Aspas is a three-time Prêmio eSports Brasil “Athlete of the Year” winner and a massive fan favorite — during VCT Americas 2024 Kickoff, he became the most-mentioned player on Twitch chats, with over 11,300 mentions.

1xBet is one of the most recognized brands in esports betting, regularly supporting major global tournaments and sponsoring top-tier teams around the world.

Simon Westbury, Strategic Advisor at 1xBet: “This is a historic step for 1xBet — becoming the first official betting partner of an esports team within the Riot Games ecosystem. MIBR features some of the most talented and visible players in Latin America, and together we aim to strengthen VALORANT’s presence across the LATAM region, elevate its appeal internationally, and deliver a unique fan experience for audiences around the globe.”

Raphael Castanheira, MIBR’s Director of Marketing and Partnerships:  “Being the first organization in the entire Riot ecosystem to obtain approval for a betting sponsorship is a direct result of how MIBR operates today, as an organized company with robust governance, clear processes, and protected by policies that put competitive integrity at the forefront. ”

 

The post 1xBet Becomes the First Official Betting Partner of MIBR’s VALORANT Team appeared first on European Gaming Industry News.

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ComeOn Group climbs to 21st place in the EGR Global Power 50 following a year of strategic growth

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Leading iGaming operator ComeOn Group has secured the 21st position in the 2025 EGR Power 50 rankings, reflecting a year defined by expansion, product innovation, and strengthened regulatory presence across Europe.

In 2025, the Group broadened its footprint in the regulated European markets with the launch of its casino-first brand Casinostuen in Denmark. The Group also advanced its activities in the Netherlands through the operation of Evoke’s 888 brand within the regulated Dutch market.

ComeOn Group continues to benefit from its strategic focus on locally regulated jurisdictions, which is powered by its own technology platform including an in-house sportsbook platform, proprietary games studio SpinOn, and unique, innovative jackpot products have been key contributors to differentiation and growing market share in core territories.

Juergen Reutter, Chief Executive Officer, said: “Our proprietary technology is powering our products and services, giving us a strong competitive edge in highly dynamic and regulated markets. This foundation allows us to innovate faster, deliver differentiated experiences, and scale with confidence.

At the same time, artificial intelligence is transforming how competitive we can operate. We’ve equipped our teams with the tools and governance to experiment boldly and apply AI where it creates the most value. At ComeOn Group, we want to learn faster than our competition, because speed, agility, and innovation are essential to staying ahead in this industry.”

The Group closed the period with strong financial performance, demonstrating consistent growth across all key indicators for the 12 months ending 30 June 2025. Combined with the company’s increased market reach and accelerated innovation initiatives, ComeOn Group enters the coming year with robust momentum and a strengthened market position.

 

The post ComeOn Group climbs to 21st place in the EGR Global Power 50 following a year of strategic growth appeared first on European Gaming Industry News.

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