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Flutter settles Kentucky court ruling for $200 million

Reuters
·1 min read

DUBLIN (Reuters) - Flutter has agreed to pay $200 million to the Commonwealth of Kentucky in addition to $100 million previously forfeited to settle an $870 million judgement reinstated last year, the PokerStars and Fanduel parent said on Wednesday.

The original award of damages was made in 2015 against The Stars Group - which Flutter bought in a $6 billion deal in 2019 - but was vacated in its entirety by the Kentucky Court of Appeals three years later, Flutter said last year.

The litigation had sought recovery of alleged losses by PokerStars players in Kentucky from 2006 and 2011. Flutter and the Stars Group said it had relied on a centuries-old statute that was intended to allow individuals who incurred gaming losses to bring an action against their opponents.

Flutter said that the Commonwealth of Kentucky had agreed to cease all further actions with respect to the case and that it considers the matter closed.

(Reporting by Padraic Halpin, Editing by Louise Heavens)