Legal battles have erupted in the gaming industry as BtoBet and EBET INC. take on industry heavyweight Aspire Global. Alleged breaches by Aspire Global, including overspending, undercharging, and fraudulent activities, have come to light through these legal disputes. The implications of these battles are significant, especially considering Aspire Global’s acquisition by NeoGames, which is currently being acquired by Aristocrat.
In one of these disputes, the co-founders of BtoBet, Alessandro Fried and Igor Lestar, have filed a legal claim against Aspire Global for breaching the Share Purchase Agreement. The dispute centers around Aspire Global’s acquisition of BtoBet in 2020 and specifically focuses on overspending and undercharging during the Earnout Period, leading to diminished profits and the Earnout Consideration. The filed claim is currently €36 million and could increase. The trial for this case is expected to take place in 2025.
EBET INC. has also taken legal action against Aspire Global, AG Communications, and their affiliated entities in the State of Nevada. The lawsuit alleges damages totaling at least €65,000,000, including compensatory and punitive damages, as well as damages to be proven during the trial. The legal action is based on allegations of fraudulent activities and a breach of a share purchase agreement by Aspire Global.
EBET’s claims against Aspire Global involve a range of serious accusations, including the manipulation of books and records, overstatement and falsification of active player data, and failure to maintain necessary operations in Germany. There are also allegations of material breaches of the operator agreements.
These legal battles have high stakes for both EBET and the co-founders of BtoBet, as they seek justice for the damages caused by Aspire Global. The outcome of these disputes will have significant implications for these companies and the gaming sector as a whole. The complex web of legal proceedings and potential trials makes this a captivating legal drama with far-reaching consequences.