By Sabela Ojea
Flutter Entertainment PLC said Wednesday that its legal dispute with the Commonwealth of Kentucky regarding certain subsidiaries of the Stars Group in 2010, prior to its combination with Flutter, has been settled in full.
The Dublin-based gambling group said it has agreed to pay $200 million to the Commonwealth, in addition to the $100 million in secured bonds previously forfeited.
The legal battle arose from PokerStars’ alleged illegal online poker operations in Kentucky. Flutter Entertainment acquired the Stars Group, parent company of PokerStars, in 2020.
“In return, the Commonwealth of Kentucky has agreed to cease all further actions with respect to the case,” Flutter said.
In December 2020, the Kentucky Supreme Court ruled that the $870 million penalty against the Stars Group had been reinstated with a compounding interest of 12% a year.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
