Ebet and Btobet Sue Aspire Global for Breach of Contract
Ebet and Btobet have initiated legal proceedings against Aspire Global, asserting that the company breached several contractual agreements.
Ebet’s legal action was filed in the Eighth Judicial District Court of Clark County, Nevada, while Btobet’s legal action was filed in the Business and Property Courts of England and Wales.
Aspire Global was acquired by NeoGames in 2022. The acquisition was finalized in June of that year.
Ebet’s legal action originates from a transaction in which it acquired specific B2C assets of Aspire Global in May 2021. As per documents, this encompassed websites, domain names, and intellectual property. Aspire also established a special purpose entity, Karamba Limited, for this purpose.
The legal action alleges that Ebet “relied upon” Aspire Global’s “statements” regarding the transaction. Ebet asserts that these statements were deceptive.
“Misleading Statements”
Ebet claims that Aspire and its associates made “misleading statements” concerning the number of Aspire player accounts.
These alleged misleading statements also encompassed spending and revenue, as well as Aspire’s procedure for obtaining an online gambling license in Germany.
In relation to gamer profiles, Ebet asserts that Aspire deliberately inflated these profiles to compel Ebet to agree to the transaction.
Ebet also charges Aspire with being aware that it couldn’t obtain an online gaming permit in Germany due to the company supposedly missing essential payments during the application process.
The legal dispute also accuses Aspire Global of “distorting its operational expenses in its audited carve-out financial statements to deceive Ebet into believing it was acquiring a business with annual income of approximately €65 million.”
Ebet claims that Aspire violated representations and guarantees in the share purchase agreement by providing Ebet with inaccurate information.
**Btobet’s Legal Dispute**
The legal dispute from Btobet lists co-founders Sousa Enterprises Ltd and Eltsar Ltd as claimants. It alleges that Aspire breached its obligations under a special purchase agreement signed in September 2020, which involved Aspire acquiring Btobet for €20 million.
The dispute mainly centers on terms related to surplus. Sousa and Eltsar claim that Btobet incurred additional regional costs in 2022, for which Aspire did not pay any extra fees.
According to the legal dispute, these costs arose from Btobet’s efforts to expand Aspire in different regions in 2022.
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