Kentucky Court of Appeals Rule in Stars Group Favor

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Kentucky Court of Appeals Rule in Stars Group Favor

The Stars Group Inc. reported that the Kentucky Court of Appeals has ruled in its favor, reversing in its entirety the December 2015 $870 million judgment.

The Kentucky Court of Appeals ruled in the favor of the Stars Group this week. A judgment in the amount of $870 million was ruled against the gambling group three years ago this month for alleged losses by Kentucky residents who played on PokerStars website with real money wagers from 2006 through 2011.

According to the court ruling, a petition for the release of a supersedeas bond in the amount of $100 million is pending by the Stars Group. The group filed an indemnification claim in regards to the Kentucky litigation that is currently pending against the sellers of PokerStars. The Stars Group is seeking all expenses, costs and losses pertaining to the litigation. All said claims will be resolved hopefully with the provisions of the escrow and merger agreements regarding the Stars Group and PokerStars acquisition.

“We applaud the decision of the highly-respected three-judge panel of the Kentucky Court of Appeals. The merits of the case prevailed and we look forward to putting this matter behind us as we sharpen our focus on executing on our growth strategy going forward,” commented Marlon Goldstein, The Stars Group Executive Vice President and Chief Legal Officer.

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