Crypto casino Stake sued by firm with same name as it seeks Australian expansion
Major crypto gambling site Stake has been sued by a Sydney-based share trading platform using the same name, as it attempts to enter Australia’s gambling market. A federal court lawsuit was filed by the trading site, HelloStake.com, last week. Court documents seen by the Australian Associated Press argue that it had already established a strong brand and reputation in Australia and therefore the crypto casino shouldn’t be allowed to operate in the country under the Stake name. HelloStake.com allows locals to “seamlessly invest” in US stocks. It made the case that the crypto casino broke the law by using its name and making false and misleading statements on its website, which confused Australia-based customers into thinking the companies were related. Features of Stake’s crypto casino, including its e-shop, are already available to locals as it attempts to secure a casino license. HelloStake.com claims that Stake.com has misled customers to believe the ...