on Nakiki SE (isin : DE000WNDL300)
Nakiki SE Signs Letter of Intent to Acquire Casino Lawsuit Portfolio
Nakiki SE has disclosed its intention to acquire a portfolio of casino and sports betting lawsuits, estimated at around EUR 6.3 million plus interest and additional costs. The company or its subsidiaries aim to take over this existing lawsuit portfolio rather than individually financing lawsuits, as previously announced on April 17, 2024.
As per German case law, players can claim reimbursement for gambling losses since many online casinos operated illegally until 2021. Nakiki plans to finance these lawsuits based on this legal standpoint. However, a ruling from the German Federal Court of Justice and the European Court of Justice is still pending.
If the acquisition goes through and the litigation is successful, Nakiki or a financing subsidiary stands to gain up to 25% of the litigation success.
R. E.
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