Flutter Entertainment said it has reached a settlement with the Commonwealth of Kentucky. The company said it has agreed to pay $200 million to the Commonwealth of Kentucky in addition to the $100 million already forfeited during the case in order to get it to cease all further legal action against the business.

‘The group strongly believes that this agreement is in the best interests of Flutter shareholders. The group now considers the matter closed,’ said Flutter this morning.

Flutter has been locked in legal battles with the Commonwealth of Kentucky after it initiated proceedings against subsidiaries of The Stars Group way back in 2010. Flutter inherited the problems after buying The Stars Group back in 2020. The case centres around Kentucky trying to reclaim alleged losses incurred by PokerStars players in the state over the five years to 2011.  

The sum to be paid to settle the case should be welcomed by investors considering the potential sum sought by the Commonwealth of Kentucky were much higher at one point. For example, one Supreme Court ruling last year supported an original $870 million judgement against The Stars Group alongside high interest rates.