Aspire Global falls out with BtoBet founders over deal rewards

The BtoBet Co-Founders have accused Aspire Global of violating business agreements.

Aspire Global, the former Stockholm Nasdaq igaming platform and solutions provider that NeoGames purchased in 2022 for €400 million, is the target of a lawsuit filed in the High Court of England & Wales.

Aspire agreed to a €15 million cash payout and a €5 million earnout reward, contingent on BtoBet's performance over a 12-month period after the deal's closing date, as part of the terms of the agreement, which was finalized in September 2022.

 

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The co-founders of BtoBet have filed a lawsuit against Aspire Global in the High Court of England & Wales, alleging breaches of business agreements. Aspire Global, which was acquired by NeoGames in 2022 for €400 million, had agreed to terms including a €15 million cash payment and a €5 million earnout, contingent on BtoBet's performance over a 12-month period following the deal's closure in September 2022. This legal dispute highlights potential issues surrounding the execution of such agreements and their financial implications within the igaming industry.