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“The Court should refuse the relief requested by … because it is manifestly contrary to the public policy of the United States based on the Debtors’ well-documented and pervasive bad faith conduct,” the petition said. “The Debtors are using the Israeli Action—a limited action which lacks many of the core characteristics of a collective insolvency proceeding—as a strategic tool to evade responsibility for their deceptive conduct.”
On Aug. 26, Tel Aviv District Court Judge Iris Lushi-Abudi rejected Papaya’s motion to pay down the Skillz judgment over 6.5 years with profits from its continuing operations.
Yaron Elhawi, an attorney based in Tel Aviv representing Skillz, said in court filings that Papaya has not proposed a reformulated debt arrangement, nor suggested how it intends to treat Skillz’s debt.
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When he subsequently looked at casino games, something else struck him – the experience did not seem dramatically different from the slot machines he remembered seeing years earlier.
“I started thinking about how to combine the really great monetisation of randomness in casino games with the attention loop of social media platforms,” Yashin says. “The idea was: what if you could bet on the result of a short video or a short TikTok?”
That question eventually became Swipe Games, a Cyprus-based business that is well on the way to establishing swipe games as a casino category in its own right. Still in its commercial infancy, the company has rapidly gained traction across the industry since beginning sales late last year.
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However the report confirms that Spectrum did not believe Evolution had engaged in any illegal practices.
iGB is publishing the full 69-page report, which is accessible to registered users of the New Jersey court system, below for anyone to read.
A news analysis outlining the report’s most prominent points will follow.