Flutter to appeal against damages in Adjarabet case
The operator claims the damages are out of proportion.
Georgia.- Flutter has announced that it intends to appeal against a court ruling against Adjarabet in Georgia. A court had awarded $330m in damages to Aviator over allegations of trademark infringement against Spribe OÜ and Adjarabet.
The court ruling identified copyright and trademark infringement and invalidated trademark registrations based on bad faith in regard to its Aviator crash game, which was developed by Spribe.
However, Flutter has said that it will appeal against the amount awarded. It said: “The level of damages sought is egregious in nature and bears no resemblance to the actual economics of the property under debate.”
Flutter bought Adjarabet in 2019.
Last month, Flutter announced that it had opened its new Global Capability Centre in Hyderabad, India, to provide tech and IT support for its gambling brands. The Dublin-headquartered group, now listed on the NYSE, has opened the $3.5m centre at RMZ Spire in Knowledge City.
Meanwhile, Playtech Plc has confirmed that it is in talks with Flutter after media speculation about a potential sale of its Italian gambling business Snaitech. It said it was in ongoing discussions “regarding the potential sale of the Snaitech business for a value that could be about £2 billion”.
Flutter’s net profits rose from $64m in Q2 2023 to $297m in Q2 2024 despite non-cash impacts of $147m on acquired intangibles amortisation charge and a $91m fair value gain on Flutter’s Fox Option liability. Group EBITDA was up 17 per cent at $738m and revenue was $3.6bn, up 20 per cent year-on-year as the number of average monthly players grew 17 per cent to 14.3 million.
