Flutter Entertainment, owner of the FanDuel Group, has been denied a rehearing of the December 17 2020 decision relating to legal proceedings originally brought by the Commonwealth of Kentucky against certain subsidiaries of The Stars Group in 2010.
In its December 2020 decision, the Kentucky Supreme Court ruled against The Stars Group, which Flutter had acquired earlier in the year, regarding a judgment made in 2015 over a case brought in 2010 on behalf of Kentucky residents who claimed to have incurred losses on the PokerStars website.
In confirming the decade-old judgment, the Supreme Court imposed a penalty of $870m plus compounding interest of 12% per annum. Including that interest, Flutter could be facing a legal bill of circa $1.4bn.
By way of response to this week’s development, the company stated: “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.”