Fox filed the suit last week to New York s Judicial Arbitration and Mediation Services (JAMS), a company spokesperson confirmed. Fox Corporation has filed suit against Flutter to enforce its rights to acquire an 18.6% ownership interest in FanDuel Group an American sports betting brand for the same price that Flutter paid for that interest in December 2020, a Fox spokesperson said in a statement given to CNBC. The suit was filed as an arbitration before JAMS in New York, NY by consent of the parties.
Flutter is considering taking FanDuel public as first reported by CNBC last month as the sports betting market is on the verge of exploding, with 19 states set to vote on mobile legalization this year. U.S. sports betting led to $30 billion in gross gaming revenue in 2020, according to The Action Network, a sports gambling news and analysis company.