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Caesars' petition for new hearing before the high court is denied in case centering on deal to bring new multimillion-dollar gaming technologies to market
LAS VEGAS, Aug. 6, 2024 /PRNewswire/ -- The Nevada Supreme Court has denied a request from Caesars Entertainment to reconsider a case involving Tipping Point Gaming (TPG). TPG had been working closely with Caesars Entertainment (NASDAQ:CZR) to bring new gaming technology to market. Caesars now faces a new trial on fraud claims, amongst other tort claims, after the Nevada Supreme Court reversed a decision by former District Court Judge Nancy Allf.
TPG had patented and was working with Caesars to bring new "picture in picture" technology and other valuable, first of its kind technology to casino floors when Caesars filed suit against the gaming technology engineering company.
TPG founder Sam Johnson alleged Caesars prevented him from entering a pending contract with a third party to either invest in or purchase his company. According to court documents, first, Caesars leaned on potential TPG suitor Accel Entertainment to stand down, and Accel agreed to stand down. Then, further according to court documents, when TPG could not disclose a second suitor interested in acquiring TPG due to a nondisclosure agreement, Caesars took intentional actions to kill any deal and keep TPG's product out of the hands of a possible competitor, including filing a meritless lawsuit to chill interest.
Posted In: CZR
