Legal disputes have erupted in the gaming industry as the co-founders of BtoBet and EBET INC. took a stand against industry leader Aspire Global. These disputes reveal alleged breaches, including overspending, undercharging, and fraudulent activities. The implications are significant as Aspire Global was acquired by NeoGames and is currently being acquired by Aristocrat.
The co-founders of BtoBet, Alessandro Fried and Igor Lestar, have initiated a legal claim against Aspire Global for breaching the Share Purchase Agreement. The dispute revolves around Aspire Global’s acquisition of BtoBet in 2020. The claimants allege that Aspire Global deliberately reduced profits during the Earnout Period, leading to improper reductions in the Earnout Consideration. The current claim is for €36 million, but this amount could increase.
EBET INC. has also filed a lawsuit in Nevada against Aspire Global, AG Communications, and their affiliated entities. The legal action seeks damages of at least €65,000,000 for fraudulent activities and breach of a share purchase agreement. EBET accuses Aspire Global of manipulating records, overstating player data, and failing to maintain necessary operations in Germany.
These legal battles have high stakes for both companies, as the co-founders of BtoBet seek redress for breached payment agreements, and EBET seeks compensation for alleged damages caused by fraudulent conduct and breach of contract. The outcome of these trials will shape the trajectory of these companies and the gaming sector as a whole.