Shutterstock/Photobeps 2021 was always going to be a complicated year for US online gambling. The industry was a young and dynamic one to begin with, but it also sat at the cusp of several potential turning points.
The transition of power from the Trump administration to Joe Biden’s was impending. So too was the opening of the Michigan iGaming market. The COVID-19 pandemic was in full swing, but vaccinations had just started to get underway and restrictions were loosening. Several important legal battles were still unresolved.
Some of what’s happened over the past twelve months fell into the category of “known unknowns.” At the end of 2020, I wrote about seven stories we knew would be unfolding this year.
There have also been a couple of major developments that happened more or less out of the blue. As we prepare to bid farewell to 2021, here’s a look back at the year’s big stories, starting with those we were following from the start. #7 – Flutter settles its battle with Kentucky
2020 ended on a cliffhanger for Flutter. Its acquisition of PokerStars had been fraught with risk due to the massive fine levied against it in Kentucky. Having won its appeal, it may have thought itself in the clear. However, in the dying weeks of the year, the state’s Supreme Court reinstated the judgment .
Not only that, it added substantial interest to the fine, bringing the total to more than $1.2 billion. The company promised its shareholders that it would fight on, but it wasn’t clear what legal footing it had to do so.
First, it tried unsuccessfully to get a rehearing . Next, it went to the US Supreme Court. Normally, SCOTUS wouldn’t involve itself in matters of state law. However, Flutter’s argument was that the amount the state was seeking was unconstitutional, and violated the Eight Amendment’s provisions against excessive fines .
The final outcome was just as Flutter had promised its shareholders. It settled for $300 million, still a substantial amount but much less than the state was seeking. #6 – WSOP adjusts to the pandemic
From a poker player’s […]
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