Amaya Appeals Kentucky $870 Million Fine

Amaya 3Canadian gaming giant Amaya has filed a notice of appeal against a Kentucky court order to pay $870 million (€794 million) in damages for subsidiary PokerStars’ allegedly illegal operations in the US state between 2006 and 2011.

Amaya said that it has filed a $100 million supersedeas bond to stay enforcement of the order “during the pendency of the appeals process”.

Amaya added that it will “continue to vigorously challenge the trial court’s order”.

“In late January, pursuant to and in accordance with the procedures set forth in the merger agreement governing the acquisition of the PokerStars business, a subsidiary of Amaya submitted a notice of claim to the sellers’ representative and escrow agent seeking indemnification for losses and potential losses caused by breaches under the merger agreement,” Amaya said.

Amaya added that its subsidiary’s notice of claim requested “among other things, that the escrow agent retain the then-remaining balance of the escrow fund established under the merger agreement in an aggregate amount equal to approximately $300 million”.

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