Author: Joe Kizlauskas
Last Updated: 26th March 2021
The FanDuel Group’s owner, Flutter Entertainment, has been refused a rehearing of a ruling reached on December 17, 2020, relating to civil action initiated by the Commonwealth of Kentucky against some branches of The Stars Group in 2010.
The Kentucky Supreme Court ruled against The Stars Group, which Flutter had purchased earlier in the year, in a lawsuit filed in 2010 on behalf of Kentucky residents who alleged to have lost money on the PokerStars website, in a decision released in December 2020.
Upholding ten-year-old decision
The Supreme Court, in upholding the ten-year-old decision, levied a penalty of $870 million, plus compounding interest of 12 percent per year. Flutter could face a legal bill worth about $1.4 billion if debt is factored in.
In response to this week’s development, the company released the following statement: “The Kentucky Supreme Court has today denied a petition made by Flutter for a rehearing of its 17 December 2020 decision relating to legal proceedings originally brought by the Commonwealth of Kentucky against certain subsidiaries of The Stars Group in 2010, prior to its combination with Flutter.
“Flutter is disappointed by the denial of its rehearing petition and continues to strongly dispute the basis of this judgment. Together with its legal advisors, Flutter will continue to consider its position in relation to the judgment, including potentially appealing the ruling of the case to the US Supreme Court along with other legal avenues which it may pursue thereafter.
“Flutter remains confident that any amount ultimately paid to resolve this matter will be a limited portion of the reinstated judgment. Further announcements will be made in due course as and when appropriate.”