SEC hands $4m civil penalty to Flutter over Stars Group Russian payments
| By Robert Fletcher
The US Securities and Exchange Commission (SEC) has ordered Flutter Entertainment to pay a $4.0m civil penalty over The Stars Group’s use of third-party consultants in Russia.
Flutter acquired The Stars Group, operator of a number of brands such as PokerStars and Full Tilt, in May of 2020, with the SEC order referring to a period between 26 May 2015 and 15 May 2020.
During this period, the order said while The Stars Group’s shares were registered with the SEC, it paid approximately $8.9m to consultants in Russia in support of its operations and efforts to have poker legalised in the country.