|Curacao-based online gambling operator Gaming VC Holdings has settled a lawsuit brought against it by Fort Knox Consulting in the US District Court of Massachusetts.|
Gaming VC stated that Fort Knox brought the suit in November of 2006 alleging breach of a commission agreement. Fort Knox alleged that Gaming VC failed to acknowledge an agreement under which it would receive a five percent commission on any aggregate consideration for any joint ventures, mergers, acquisitions or stock or asset purchases or sale transactions with any of 13 identified counter-parties. The action named Chief Executive Officer Steve Barlow and former director Scott Miller as individual defendants based on alleged 'tortious interference' with the agreement.
The lawsuit sought a declaratory judgement on the case as well as unspecified damaged for breach of the implied covenant of good faith and fair dealing and alleged violations of Massachusetts’ unfair trade practices statutes.
No details of the agreement were released but Gaming VC did reveal last month that it had received a preliminary bid approach just days before posting record full-year profits due to the resilience of its German casino business and the better than expected performance of its sportsbook division.