Flutter says it will appeal $330 million Georgia ruling

DUBLIN (Reuters) - Irish betting giant Flutter Entertainment said on Thursday it plans to appeal a $330 million ruling against itself and partner Spribe in Georgia in a trademark case filed by a former shareholder of its Georgian subsidiary Adjarabet.

A Georgian court last week awarded former Adjarabet shareholder Aviator LLC $330 million in a trademark and copyright case against Flutter and Spribe over the "Aviator" online game, Aviator LLC said in a statement.

Flutter said in an emailed statement on Thursday that it was surprised by the ruling and strongly disputed the basis and quantum of the judgment, which it said it planned to appeal.

"The level of damages sought is egregious in nature and bears no resemblance to the actual economics of the property under debate," the Flutter statement said. The claim is without any merit whatsoever, it said.

The Aviator game generated around $7.5 million of revenue in Georgia last year, Flutter said.

Neither Flutter not Aviator specified how much of the damages were awarded against Flutter and how much against Spribe, which builds online gambling products.

Flutter, which operates in more than 20 countries under brands including FanDuel, Betfair and Paddy Power, acquired 51% of Adjarabet in 2019 and the remaining 49% in 2022.

(Writing by Conor Humphries; Editing by Jan Harvey)

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• IAEA says status of Iran nuclear programs unknown
• Bitcoin’s worst is over, former Credit Suisse risk head sees $150,000 by 2027
• Will U.S. data allow the Fed to remain patient?