EBET and Btobet have taken legal action against Aspire Global, accusing it of a number of contractual breaches.
Ebet’s lawsuit was filed in the Eighth District Court of Clark County, Nevada, while Btobet’s lawsuit was filed in the business and property courts of England and Wales.
Aspire Global was acquired by NeoGames in 2022. The deal was completed in June this year.
Ebet’s legal challenge arises from its agreement to acquire certain B2C assets from Aspire Global in May 2021. According to the documentation, this included websites, domains and intellectual property. For this purpose, Aspire also established a special purpose vehicle called Karamba Limited.
The legal challenge states that Ebet “relied on representations” from Aspire Global regarding aspects of the deal. Ebet claims that these were presented fraudulently.
Ebet claims that Aspire and affiliates made “misrepresentations” regarding the number of player accounts owned by Aspire.
These alleged falsehoods also include expenses and income as well as Aspire’s process for acquiring an online gaming license in Germany.
Regarding the player accounts, Ebet claims that Aspire knowingly inflated them in order to get Ebet to agree to the deal.
Ebet also claims that Aspire knew it would not qualify for an online gaming license in Germany. This is because a basic payment was allegedly missed.
The lawsuit also accuses Aspire Global of “misrepresenting its operating expenses in the audited spin-off financials in order to mislead EBET into believing that it was purchasing a company with annual sales of approximately €65 million.”
Ebet accuses Aspire of breaching representations and warranties in the share purchase agreement by providing false information.
Btobet legal challenge
Btobet’s lawsuit lists co-founders Sousa Enterprises Ltd and Eltsar Ltd as plaintiffs. It is alleged that Aspire breached obligations under a special purchase agreement dated September 2020. This is in connection with the 20 million euro takeover of Btobet by Aspire.
The challenge focuses primarily on earnout clauses. Sousa and Eltsar claim that Btobet incurred additional legal costs in 2022 and Aspire did not pay any additional fees as a result.
According to the statement of claim, these costs arose as a result of Btobet attempting to develop Aspire in various jurisdictions throughout 2022.