Standard Liège and Casino777: A legal battle and a distancing statement
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21 May 2024 •
Reading time: 3 minutes Standard Liège in legal dispute with 777 Partners
Standard Liège, a Belgian football club, is embroiled in a legal battle with 777 Partners, its ownership group. The similarity between the name of the investment fund and that of Casino777, a gambling company, has prompted the latter to clarify its position. In a public statement released through various channels, Casino777 has emphasized that it is not part of 777 Partners.
Troubles at Standard Liège
Two years ago, the American investment fund 777 Partners became the new owner of the Belgian football club Standard Liège. The partnership was met with great enthusiasm from the fans. However, a few years later, the relationship between the two parties has cooled down following ongoing fan protests.
The investment fund is facing multiple lawsuits due to allegations of multimillion-dollar fraud. The CEO of 777 Partners has already resigned. One of the lawsuits is with the former shareholders of Standard Liège, who are demanding that the shares and assets of 777 Partners be frozen. The court has granted this request.
The Americans have tried to sell the team without informing the club’s board. This did not go down well with the fans, who have already rebelled.
No Connection between Casino777 and 777 Partners
Because the name of the investment fund closely resembles that of the Belgian casino Casino777, the gambling company wants to clear up any misunderstandings. Casino777 has confirmed that it is not affiliated with 777 Partners in any way.
Jennifer Dettori, CEO of Casino777, emphasizes in a statement:
“For several months now, there has been speculation in the press about the problems at Standard Liège. The name of the club’s owner, the American investment fund 777 Partners, has been mentioned several times in this regard,” says Dettori.
“As General Manager of Casino777, I would like to clarify our position on the recent events surrounding Standard Liège and its shareholder 777 Partners. Casino777, a Gaming1 brand, is in no way connected to 777 Partners.”
“We want to express our support for Standard Liège in this difficult period and we are aware of the importance of avoiding any confusion that could damage our brand image. We support the club, its players, staff and fans and we hope that Standard will overcome these challenges successfully. Our commitment to the Walloon and Liège community remains our top priority and we will continue to support the club as much as possible,” Dettori explains.
Sports Sponsorship
Standard Liège is one of the football clubs in Belgium that has a sponsorship agreement with Gaming1, Casino777’s parent company. In addition to Standard, Gaming1 also sponsors football clubs Mons and AA Gent. Casino 777 itself is a sponsor of KVC Westerlo, cyclocross team Team 777 CX and basketball club Okapi Aalst.