A month ago, Los Angeles lawyer Sara King made headlines after using a $10 million business investment to live in luxury. Now, amid an ongoing lawsuit, King claims that her husband, the Iranian royal Kamran Pahlavi, forced her to waste the money, The Daily Beast reported.

Thanks to her relationship with Pahlavi, King was introduced to the Swiss banker Laurent Reiss. Reiss, though his LDR International company, provided King’s personal business, King Family Lending (KFL), with a $10.2 million investment.

KFL allowed customers to receive quick cash for collateral such as cars, jewelry and luxurious items.

However, King did not use the money to fund third-party loans, as originally agreed with Reiss. Instead, LDR International alleges, the woman used the money to move into the Wynn Las Vegas resort and live and gamble there for half a year.

As a result, LDR International launched a lawsuit against King. The prosecution claims that King had a gambling problem and would bet ludicrous amounts of money on slots in Vegas. Amid the ongoing lawsuit, King came forward with a new claim, saying that it was, in fact, Pehlavi who forced her to do all of this.

Pehlavi is the grandson of the Shah’s twin, Princess Ashraf. According to King and her defense, the Iranian royalty understood that his wife was good at slots and made her play. The woman’s attorneys allege that she loved her husband so much that she didn’t question him and kept on playing.
According to the defense, Pahlavi hoped that King, who allegedly called herself “the slots whisperer,” would earn money to cover a debt to LDR International.

“She Ruined My Life and Now This?”

Pahlavi was outraged by King’s claims. In an interview with The Daily Beast, he slammed his wife’s allegations and said that she was an addict. Pahlavi noted that forcing someone to gamble is a ludicrous idea and noted that he find it difficult to get his wife off the machines.

What kind of a person would push his wife to gamble with his best friend’s money? How does that make any sense?

Kamran Pahlavi

Pahlavi noted that King continued to play even when he wasn’t around.

The Iranian royal says that he has now moved to Morocco to escape from King. He has filed for divorce and hopes to cut his ties with his problem gambler wife.

“She betrayed me. Lied to me. Stole from me. Embarrassed me. Humiliated me. That’s not bad for a reason to break up,” Pahlavi told The Daily Beast in an earlier interview.

Neymar da Silva Santos Júnior, a famous soccer professional playing as a striker for Paris Saint-Germain, streamed himself losing a million playing online poker. The athlete’s unfortunate loss was broadcast live on Twitch.

Neymar has been streaming on the Amazon-owned platform in addition to playing on the field. He is working under an agreement with the iGaming operator Blaze, serving as its ambassador.

The latest stream saw the PSG striker wager a huge amount playing online poker. According to him, all of the money he lost came from his own pocket. While there is no way to confirm that, Neymar’s reaction to losing the money was full of emotion.

Upon losing his bet, the soccer professional acted as if he was about to cry. His friends – like any good friends would – mocked him for his loss. While Neymar was struggling to come to terms with losing a million dollars, his friends played a distorted version of My Heart Will Go On, Titanic’s theme song.

Neymar eventually calmed down and began laughing at his own misfortune, even mocking himself for losing the money by playing an air flute.

Many doubt that Neymar actually pulled the money out of his pocket. A more plausible explanation would be that it was actually given to him by his gambling sponsor.

Usually, streamers in Twitch’s Slots category would have a sponsor who, viewers believe, fuel their accounts with money. This allows content creators to continue streaming and promoting their sponsors’ brands.

Regardless of whether this is really the case, high-rollers are always entertaining to watch because their viewers like seeing high numbers. Few people can truly afford to wager big amounts on poker or another gambling vertical, which is why they are often excited to see celebrities placing their dream bets.

Neymar was known for his love of gambling even before his deal with Blaze. The soccer pro has played poker for years now and has even participated in a variety of major poker events.

Neymar continues to be sidelined in PSG because of an injury he sustained in February. Despite undergoing successful surgery in early March, the player is still recovering. This downtime provides the athlete with plenty of time to continue his adventures in Twitch’s Slots category.

In other news, Twitch recently banned Sliker, whose main account allegedly got hacked. The content creator made headlines after taking thousands of dollars from his colleagues and viewers to gamble.

John Brier and Bin Tu, the founders of a famous lottery data business known as TinBu, filed a lawsuit against the company that acquired their business, Lottery.com, claiming that they are owned millions in payment, as well as additional financial assets. In their lawsuit, represented by Morgan & Morgan, Tu and Brier claimed that Lottery.com promised them millions of dollars of payment upon agreeing to sell their business back in 2018.

Besides failing to pay millions for the acquisition of TinBu, Lottery.com allegedly promised the duo to compensate them with cryptocurrency “token” investments in the company. The new lawsuit claims that in addition to the aforementioned compensation and pay, Tu and Brier were promised guaranteed five-year employment contracts in order to continue to collaborate with the company post-acquisition.

Attorneys John Morgan, Roger Brown and Benjamin Webster, representing Tu and Brier explained that their clients helped develop a business from the ground up. Then, when they came to an agreement for the acquisition of the aforementioned business, they were not compensated as promised, claimed the attorneys. Finally, Morgan, Brown and Webster noted: “We hope to recover what Mr. Brier and Mr. Tu are owed and hold other companies like this accountable.”

“Our clients built a business from the ground up, but instead of being rewarded for their hard work, they had their company essentially stolen out from under them,“

reads a statement released by John Brier and Bin Tu’s attorneys, John Morgan, Roger Brown and Benjamin Webster

Lawsuit Alleges There Are Millions of Unsettled Payments and Compensations

Although the acquisition was completed, the plaintiffs claim that they are yet to be compensated. Overall, the lawsuit alleges that Lottery.com failed to deliver on multiple promises for compensations and payments surpassing $10 million, all of which were made in light of the acquisition of TinBu.

The recent lawsuit isn’t the only legal action that Lottery.com is facing. The company is also subject to class action lawsuits with investors alleging it presented misleading or false financial reports. Those lawsuits reportedly ink to a number of senior-level directors that have left the company recently.

The premium provider of sports betting services to licensed business-to-customer gambling operators, Kambi, released its latest annual financial report, outlining the company’s performance in 2022, highlighting important achievements and outlining plans for the future. Released Thursday, the new report shows that Kambi’s revenue in 2022 hit €166.0 million ($181 million). This result, when compared to the €162.4 million ($177.1 million) in revenue reported for the corresponding period in 2022, marked an increase of 2%.

Despite the slight increase in revenue, Kambi surpassed its pre-pandemic performance. Back in 2019, the company reported total revenue of €92.3 million ($100.7 million) and in 2020, the revenue hit €117.7 million ($128.3 million). In other words, the €166.0 million ($181 million) result from 2022 reaffirms the ongoing growth of the company and the potential of its products.

The latest report reveals that EBIT reported by Kambi in 2022 was €34.8 million ($37.9 million). Last year, the company has seen €53.3 million ($58.1 million) in net cash and €0.861 ($0.94) earnings per share. A breakdown of the gross gaming revenue (GGR) reported per region revealed that Europe was responsible for 43%. On the other hand, the lion’s share of GGR was reported by the Americas region, while the rest of the world (RoW) segment contributed 3% only.

The Company Enjoyed Strategic Achievements and Growth

Besides the financial aspect, Kambi highlighted multiple accomplishments achieved during 2022. Last year, the company unveiled the launch of its first modular service called Bet Builder. The innovative solution launched during a period of continuous growth in the sports betting sector and quickly proved itself as “a key differentiator,” helping power the operations of sportsbooks.

Additionally, Kambi noted that ahead of the 2022 World Cup, it launched its pioneering 3rd Gen trading solution. This is an AI-driven trading solution delivering unique advantages for sportsbooks, as well as exciting experiences for sports fans.

“Kambi’s success in 2022 was testament to the growth of our current partners as well as the great appetite that continues to exist for the complete Kambi sportsbook.“

Kristian Nylen, CEO at Kambi

Kristian Nylen, Kambi’s CEO, explained that 2022 brought success for the company, reaffirmed the potential and the strong demand for its products. He explained that throughout last year, Kambi strengthened its products and at the same time forged nine new partnerships. Nylen acknowledged the positive impact of the World Cup and stressed that the scalability and flexibility of the company’s solutions continue to help it grow. Finally, the CEO pointed out that Kambi entered 2023 with the same positive momentum gained in 2022 and predicted achieving of long-term goals.