Legal Gambling USA

Online casino games, poker, sports and horse racing betting websites authorized in USA

Legal Gambling USA

Scientific Games files a lawsuit against its third-biggest shareholder Sylebra Holdings

June 20, 2019

Scientific Games could soon file a lawsuit against its third-biggest shareholder, Sylebra Holdings, which has a 9.34 percent stake in the company with a grand total of $177.8 million invested in this company. The supplier went on to say that Sylebra is being investigated by 24 US and international gaming authorities. They work out of Hong Kong, and when they were asked to comply with information requests and disclosure submissions to the right regulatory body, they refused. 

What Does the Lawsuit Allege

Along with the things previously mentioned, the lawsuit also alleges that Sylebra Holdings has alleged ties with a Russian company that has done a variety of criminal activities such as money laundering, illegal gambling and the financial support of terroristic organizations. Susan Cartright, the spokeswoman for Scientific Games, has said that her company takes transparency and the high standards of gaming extraordinarily seriously. They want the regulators in Nevada to know that they remain compliant, and they are not aligned with some of the alleged activities that Sylebra Holdings potentially does. In fact, whether they work in the United States or anywhere else in the world, they want to remain compliant with the correct coming commissions. 

Sylebra Holdings owns 8.6 million shares of the company, and they have held this company for over four years. 

What is Sylebra Trying to Hide?

Susan Cartright has said that the fact that Sylebra Holdings has allegedly attempted to hide its activities shows that it could be hiding some shady activities under the surface. In addition, because of its alleged ties with a Russian company known for these activities, it could go against them. The identities of the investors in this master fund have never been fully disclosed. However, Sylebra Holdings has a sustained pattern of strategically timing their disclosure of information that they are willing to part with. They use procedural mechanisms in an effort to prevent disclosing any information that actually matters.

What does Scientific Games hope to get from this lawsuit? In the lawsuit, they hope to get all the necessary information. Let's say that Sylebra Holdings chooses to fight this. Scientific Games could see them as a disqualified shareholder based on the corporate bylaws. Ultimately, this would force Sylebra Holdings to sell its shares. At Scientific Games, the largest shareholder in the company is American billionaire Ron Perelman who holds a 39.2 percent stake in Scientific Games.


Online Casino News in USA

The Only Game in Town

March 26, 2020 — Land-based casinos in the US are suffering from the devastation being caused by lost business revenues due to the Coronavirus pandemic. While there might be light at the end of the tunnel, the month...

Pala Casino Offers Amazing Bonus To New Players

March 25, 2020 — New players to the Pala Casino need to celebrate the fact that they are offered some of the most amazing bonuses in the industry at this time. There is the classic matching bonus for up to $500 on t...

Claim $1,000 in Free Bonus Money at Golden Nugget

March 19, 2020 — The Golden Nugget is one of the best online gaming destinations for New Jersey residents. Right now all new players at the Golden Nugget can qualify for up to $1,000 in free money when they make the...

Gamblers Look to Online Casinos as Coronavirus Shuts Down Live Gambling

March 18, 2020 — In Las Vegas the legendary Strip has been reduced to a shell of its normal self. In the wake of the coronavirus pandemic many properties are closing temporarily. Other casinos are only allowing a li...

All the news from legal online casino in USA

Copyright 2020 © LEGAL-GAMBLING-USA.COM - All rights reserved
Legal Disclaimer - Warning - Affiliate Program - Responsible Gaming - Contact
Legal-Gambling-USA.com on Twitter   RSS Legal-Gambling-USA.com

Gambling involves risk: indebtedness, dependence, isolation. Helpline: 1.800.522.4700
Gambling is prohibited for minors.

-18 -21