Connect with us

Latest News

Investor files case against esports gambling startup Unikrn

Published

on

Investor files case against esports gambling startup UnikrnReading Time: 2 minutes

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


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.

Latest News

LinkDataMedia Drops ‘Startup’ Look with Major 5th Anniversary Rebrand

Published

on

Editor’s Take

Why this matters: In the iGaming affiliate space, the five-year mark is a critical survival threshold. Many media startups fade away before reaching it. LinkDataMedia’s decision to rebrand now is a classic “graduation” signal. By shedding their startup skin for a more corporate, “blue-chip” aesthetic (the stability-focused blue triangle), they are telling operators and partners that they are no longer just an affiliate project, but a stable infrastructure partner ready for larger commercial deals.

The Full Story

LinkDataMedia, the parent company behind the popular affiliate portal Gamblers Connect, has announced a comprehensive corporate rebrand to coincide with its fifth anniversary.

The overhaul includes a completely refreshed brand identity, a redesigned logo, and a fully revamped website, all of which are now live. The move is described by the company not as a mere cosmetic update, but as a strategic pivot designed to distance the business from its “startup roots” and reflect its current status as an established player in the competitive iGaming media landscape.

Visualizing Maturity The new visual language features a modernized blue triangular logo, a shape chosen to represent “stability and forward momentum.” The digital user experience has also been streamlined, offering partners a cleaner interface that aligns better with the company’s matured operational capabilities.

Management Commentary Gjorgje Ristikj, Founder and CEO of LinkDataMedia, commented on the significance of hitting the half-decade milestone in such a volatile industry:

“Surviving the first five years in business takes more than luck. It takes belief, resilience, and the right people around you. This milestone, and the rebrand, reflect exactly that.”

Implementation The new branding has already been deployed across the main corporate website and is currently being rolled out across LinkDataMedia’s social media channels and internal communication platforms. As the company enters its sixth year, the refreshed identity aims to set the stage for a new phase of expansion and innovation.

The post LinkDataMedia Drops ‘Startup’ Look with Major 5th Anniversary Rebrand appeared first on Gaming and Gambling Industry Newsroom.

Continue Reading

Latest News

Win Systems to Debut New ‘Gold Club Colors’ and WIGOS Upgrades at ICE Barcelona

Published

on

Editor’s Take

Why this matters: As ICE makes its historic move to Barcelona, established tech providers like Win Systems are under pressure to bring their “A-game” to the larger venue. The focus here isn’t just on cabinets; it’s the ecosystem. By highlighting WIGOS (their CMS) alongside WIN PAY, Win Systems is positioning itself as an infrastructure partner, not just a hardware supplier. The debut of the Gold Club Colors roulette specifically targets the growing demand for visually customizable electronic table games (ETGs).

The Full Story

Win Systems, the global provider of technology for the gaming and entertainment industry, has confirmed its product roadmap for ICE Barcelona 2026, the sector’s most significant international event taking place from January 19 to 21.

Exhibiting at Stand 3M30 at the Fira Barcelona Gran Via, the company will leverage the new venue to showcase a broad portfolio designed to cover the entire casino floor—from management systems to the gaming floor itself.

Systems and Fintech At the core of the showcase is WIGOS, the company’s flagship Casino Management System (CMS). WIGOS is widely recognized for connecting thousands of machines across multiple countries, and the Barcelona display will focus on advanced tools that streamline daily operations and optimize player retention.

Complementing the CMS, Win Systems will present WIN PAY, its secure transaction platform. As cashless and seamless payment solutions become standard requirements for operators, WIN PAY offers the necessary efficiency and security controls for modern gaming environments.

Hardware: Roulette and Slots On the hardware side, Win Systems is refreshing its electronic table game offering with the new Gold Club Colors electronic roulette. The Gold Club line has long been a staple in the company’s portfolio, known for its compact footprint and reliability; the “Colors” iteration promises to maximize visual impact on the floor.

Alongside the roulette, the company will display its latest slot hardware, including the Sublime and Rhapsody cabinets. These units are designed to house the company’s extensive game library, which has been adapted to suit diverse market profiles from Europe to Latin America.

Strategic Goals Win Systems aims to use the three-day event to reinforce its 30-year legacy in the industry. The company described its participation as a commitment to “continuous innovation,” inviting operators and regulators to explore how their integrated solutions can improve in-room performance.

The post Win Systems to Debut New ‘Gold Club Colors’ and WIGOS Upgrades at ICE Barcelona appeared first on Gaming and Gambling Industry Newsroom.

Continue Reading

Latest News

bet365 Brings Popular ‘Over/Under’ F2P Game to UK Market with LOW6

Published

on

Editor’s Take

Why this matters: The UK betting market is mature, but the appetite for US sports (NFL in particular) is growing rapidly. By porting this specific “Over/Under” prop format—which has already succeeded in North America—bet365 is engaging a specific sub-segment of UK bettors who prefer the player-prop style of betting common in the US, rather than the traditional match-winner markets. It’s a smart retention play that uses “free-to-play” fun to educate users on complex prop markets.

The Full Story

bet365, the world’s leading online betting brand, has announced the UK launch of its popular Over/Under free-to-play (F2P) game, developed in partnership with gamification specialist LOW6.

This rollout follows successful deployments of the title in Canada, Mexico, Brazil, and multiple U.S. states, where it has already generated millions of prop picks. The move signals bet365’s intent to deepen engagement with UK-based fans of major American sports leagues.

How the Game Works Designed specifically for followers of the NFL, NBA, MLB, and NHL, the Over/Under game offers a fast-paced, prop-based format.

  • The Mechanic: Users select “Over” or “Under” on specific player performance stats (e.g., passing yards, points scored).

  • The Strategy: Players can choose between 3 to 10 markets per entry. The more selections they combine, the higher the potential prize.

  • The Bridge to Betting: Once an entry is confirmed, the game features a one-click integration that allows players to instantly port their F2P selections into a real-money bet slip on the bet365 platform.

Management Commentary Jon Riley, PR Operations Lead at bet365, highlighted the rising popularity of US sports across the Atlantic:

“The growth of sports betting in the US has been remarkable – fans are engaging with their favourite leagues, teams and events like never before… That passion for the NFL, NBA, MLB, and NHL has grown globally, and at bet365 we’re delighted to launch such an exciting and entertaining free-to-play game this side of the Atlantic.”

Jamie Mitchell, CEO of LOW6, emphasized the data-backed success of the format:

“The feedback from users, as well as the player numbers and underlying player engagement data shows this game has been a perfect fit. To see bet365 now making it available in the UK is testament to the success of the partnership.”

Josh Turk, Chief Strategy Officer at LOW6, added that the “slick” user journey from free-to-play to real-money wagering is a key feature driving the product’s retention value.

This launch further solidifies the relationship between bet365 and LOW6, leveraging F2P mechanics not just for acquisition, but to increase “player lifetime value” (LTV) by educating casual fans on prop betting markets.

The post bet365 Brings Popular ‘Over/Under’ F2P Game to UK Market with LOW6 appeared first on Gaming and Gambling Industry Newsroom.

Continue Reading

Trending

EEGaming.org is part of HIPTHER, parent brand of various prominent news outlets and international conferences. These platforms and events span a wide range of industries, including Entertainment, Technology, Gaming and Gambling, Blockchain, Artificial Intelligence, Fintech, Quantum Technology, Legal Cannabis, Health and Lifestyle, VR/AR, eSports, and several others. This indicates that EEGaming.org is part of a larger network that focuses on a diverse array of sectors, particularly those related to cutting-edge technology and modern lifestyle trends.

Contact us: [email protected]

Editorial / PR Submissions: [email protected]

Copyright © 2015 - 2025 HIPTHER. All Rights Reserved. Registered in Romania under Proshirt SRL, Company number: 2134306, EU VAT ID: RO21343605. Office address: Blvd. 1 Decembrie 1918 nr.5, Targu Mures, Romania

We are constantly showing banners about important news regarding events and product launches. Please turn AdBlock off in order to see these areas.