Ebet and Btobet have taken legal action against Aspire Global for numerous breaches of contract.
Ebet and Btobet have taken legal action against Aspire Global for numerous breaches of contract.
Ebet’s suit was filed in the Eighth District Court of Clark County, Nevada, and Btobet’s suit was filed in the Business and Property Court of England and Wales.
Aspire Global was acquired by NeoGames in 2022. The deal was completed in June of this year.
Ebet’s legal challenge stems from its May 2021 agreement to acquire certain B2C assets from Aspire Global. This would include websites, domains, and intellectual property, according to the document. To this end, Aspire has also established a special-purpose company called Calamba Limited.
The legal challenge states that Ebet “relied on representations” from Aspire Global regarding aspects of the transaction. Mr Ebet claims these were presented fraudulently.
“Misrepresentation”
Ebet alleges that Aspire and its affiliates made “misrepresentations” regarding the number of player accounts owned by Aspire.
These alleged misrepresentations include expenses and income, as well aswellasthe process by which Aspire obtained an online gaming license in Germany. Regarding player accounts, Ebet claims that Aspire intentionally inflated the accounts to get Ebet to agree to the contract.
Ebet also claims that Aspire knew it was not eligible for an online gaming license in Germany. This is because basic payments are believed to have been delayed.
The lawsuit also accuses Aspire Global of “misrepresenting operating expenses in audited spin-off financial reports to mislead Ebet that it was acquiring a company with annual sales of approximately 65 million euros.”.
Ebet accuses Aspire of providing false information and breaching its representations and warranties in the stock purchase agreement.
Btobet legal challenge
Btobet’s lawsuit names co-founders Sousa Enterprises Ltd and Eltsar Ltd as plaintiffs. Aspire is alleged to have breached its obligations under a special purchase agreement dated September 2020. This is in connection with Aspire’s € 20 million acquisition of Btobet.
This challenge focuses primarily on earn-out clauses. Mr. Sousa and Mr. Eltsar claim that Btobet incurred additional jurisdictional costs in 2022, but that Aspire paid no additional fees as a result.
According to the complaint, these costs were incurred as a result of Btobet’s efforts to develop Aspire in various jurisdictions throughout 2022.