Flutter has agreed to pay $200 million to the Commonwealth of Kentucky in addition to $100 million previously forfeited to settle an $870 million judgement reinstated last year, the PokerStars and Fanduel parent said on Wednesday. The original award of damages was made in 2015 against The Stars Group - which Flutter bought in a $6 billion deal in 2019 - but was vacated in its entirety by the Kentucky Court of Appeals three years later, Flutter said last year. The litigation had sought recovery of alleged losses by PokerStars players in Kentucky from 2006 and 2011.
The cash-and-stock offer, valued at more than $20 billion, comes after the British gambling company rebuffed a takeover proposal from MGM Resorts International earlier this year.
A small Spanish island in the Atlantic Ocean is struggling days after a volcano erupted, forcing the evacuation of thousands of people, and authorities are warning that more dangers from the explosion lie ahead. The eruption occurred Sunday afternoon on La Palma, one of eight volcanic islands in Spain’s Canary Islands archipelago, which is strung along Africa’s northwestern coast. It was the second volcanic eruption in 50 years for the island, which has a population of 85,000.