Wide Banner 728

Wide Banner 728

Gaming Report: Fantasy Sports Platform Howzat Onboards Suresh Raina as Brand Ambassador & More

Gaming Report
  • Profile picture
  • Namita Ghosh September 23, 2021
  • 5 Minutes Read

Even after retiring from international cricket, Suresh Raina has kept busy with endorsement deals. In the last two years alone, the former Indian cricketer has endorsed gaming brands like Fantain and 9stacks. Raina will now be seen promoting the Junglee Games-owned fantasy sports platform, Howzat, in a new brand association.

The eight-year-old legal feud between the Commonwealth of Kentucky and PokerStars has finally been settled. After filing a petition against the initial judgment by the Kentucky Supreme Court, PokerStars’ parent company Flutter Entertainment has managed to get off the hook by settling for $300 Million, a significant cut on the $1.30 Billion penalty stamped on the company.

American fantasy sports operator DraftKings has upped its takeover offer for UK’s gambling group Entain to $22.40 Billion. The renewed offer represents a 46.2% premium on Entain’s closing price on Monday.

 

Fantasy Sports Platform Howzat Onboards Suresh Raina as Brand Ambassador

Howzat, the fantasy sports subsidiary of Junglee Games, has signed on former cricketer Suresh Raina as its new brand ambassador.

The contract with Howzat is Raina’s third brand association with a gaming company, after Fantain and 9stacks. He joins Yuvraj Singh and Irfan Pathan as the latest celebrity cricketer to endorse the brand.

Talking about the new brand association, Raina said, “Howzat reminds me of the days when as a young boy in Muradnagar, I would earn rewards for winning local tournaments with my team, which made playing cricket more exciting and fun. It’s a wonderful app that lets me engage with fans from all over India who share my love for cricket.”

He admitted he loves to create teams and play on Howzat. “I really love the app — it’s my favorite in the fantasy space. I say this as a user first, and now also as a proud brand ambassador.”

Widely considered one of the best middle-order batsmen to have represented India, Raina is also remembered as a sharp fielder. He was the first Indian batsman to make a century in all three formats of international cricket and the first player to have ever scored 5,000 runs in the IPL.

Even though Raina retired from international cricket in August 2020, he remains hugely popular among the masses.

Now that he’s with team Howzat, the brand will be running regular fantasy cricket contests where users can challenge and play against Raina’s team to win cash prizes.

Vice-President (Marketing) at Junglee Games, Bharat Bhatia, welcoming Raina on board, said. “We’re super excited about Suresh Raina joining Howzat as one of our brand ambassadors. He has made a phenomenal contribution to Indian cricket over the years and is loved across the country for that. His endorsement of Howzat is going to catalyze our brand’s growth,” he said.

 

Flutter Reaches $300M Settlement With Commonwealth of Kentucky

Flutter Entertainment, the parent company of PokerStars and Stars Interactive, has settled an eight-year-old feud with the Commonwealth of Kentucky over PokerStars’ illegal online poker operations during the Black Friday years before 2011. As part of the agreement, Flutter will be paying Kentucky state $300 Million in damages – much less than the $1.30 Billion it’d have to pay had things gone by a December 2020 ruling by the Kentucky Supreme Court.

Kentucky had initiated legal action against illegal online gambling sites like PokerStars in 2008 and filed a lawsuit against the poker giant in 2012. In the case, the state claimed that PokerStars had collected over $290 Million from illegal bets placed by state residents between 2008 and 2011. The lawsuit was structured basis the provisos of the 1798-dated Kentucky Loss Recovery Act (LRA).

Last December, the Kentucky Supreme Court upheld a judgment against PokerStars, directing it to pay $1.30 Billion that included a fine of $870 Million and an additional 12% interest per annum. While the judgment was the most significant civil award in the history of the Commonwealth, this April, Kentucky Governor Andy Beshear announced that Kentucky would collect the first installment of $100 Million from PokerStars by May 14.

Stars Interactive hired the famous Supreme Court litigator Lisa Blatt of Williams and Connolly LLP and filed a petition against the judgment on August 26, 2021.

Now that the Kentucky state has agreed to close the case with a $300 Million settlement, Flutter and PokerStars will finally be able to put the prolonged litigation behind them.

 

DraftKings Ups Entain Takeover Offer to $22.40 Billion

After its $20 billion takeover bid for UK-based gambling group, Entain was rejected by the company, DraftKings has re-approached the company with an improved $22.40 billion offer. The renewed offer remains under consideration by the Entain Board.

Earlier this week, Entain disclosed DraftKings had increased its offer to £28 ($38.17) per share, bringing the offer to $22.4 Billion. This includes £6.30 ($8.59) in cash and the remaining £21.70 ($29.58) per share in the form of new DraftKings Class A common shares. The offer represents a 46.20% premium on Entain’s closing share price on Monday.

Entain’s share price shot up by 17% on Tuesday following the new offer, while DraftKing’s share tumbled by 7.42%.

Entain has asked its shareholders not to take any action and that it would be making an appropriate announcement after a final decision by the company’s board. A company statement read: “The board of Entain strongly believes in the future prospects of the company underpinned by its leading market positions, world-class management team, and industry-leading technology.”

Entain has earlier this year rejected an $11 billion takeover offer by MGM Resorts International – a joint partner with Entain in the BetMGM brand.

While market analysts surmise MGM Resorts may come up with a new offer for Entain, MGM announced on Tuesday that any deal involving Entain’s U.S. assets would require its consent.

0 0 votes
Article Rating
Subscribe
Notify of
0 Comments
Inline Feedbacks
View all comments

Top Online Poker Rooms

Top
PokerGuru