Churchill Downs Incorporated and Aristocrat Leisure Limited Announce Agreement in Principle to Settle Lawsuits related to Big Fish Games, Inc.
LOUISVILLE, Ky., May 24, 2020 (GLOBE NEWSWIRE) — Churchill Downs Incorporated (“CDI”) (Nasdaq: CHDN) and Aristocrat Leisure Limited (ASX: ALL) (“Aristocrat”) today announced that they have entered into an agreement in principle to settle the Kater v. Churchill Downs, Inc., and Thimmegowda v. Big Fish Games, Inc. lawsuits (the “Kater and Thimmegowda Litigations”). CDI completed its sale of Big Fish Games, Inc. to Aristocrat in January 2018. The agreement in principle remains contingent on final court approval by the U.S. Federal District Court for the Western District of Washington (the “District Court”).Under the terms of the settlement, which will take effect only after final court approval of the proposed class settlement:A total of USD$155 million will be paid into a settlement fund. CDI will pay USD$124 million...
