Goblin Festival — ruling 1

If you activate this multiple times in a row so the stack has more than one of this ability on it, the abilities will still resolve even if Goblin Festival leaves the battlefield or leaves your control before they resolve. For example, if activate the ability twice, and after the first flip you lose control of it because you lost the toss, or it leaves the battlefield, then you still flip for the second ability.

Goblin Festival — ruling 2

The controller of the ability chooses one of their opponents. If this card changes controllers before the ability resolves, you still pick an opponent of the player who controlled it when it was activated.

Goblin Festival : règles, fonctionnement et interactions (MTG)

Goblin Festival is one of those cards players keep asking about. Here is, in plain words, what its official text says, the rulings published by Wizards of the Coast, and the combos players actually run.

Official card text

: This enchantment deals 1 damage to any target. Flip a coin. If you lose the flip, choose one of your opponents. That player gains control of this enchantment.

How it works : Goblin Festival

Original English text — Wizards of the Coast / Scryfall

#1October 4, 2004· Wizards of the Coast
If you activate this multiple times in a row so the stack has more than one of this ability on it, the abilities will still resolve even if Goblin Festival leaves the battlefield or leaves your control before they resolve. For example, if activate the ability twice, and after the first flip you lose control of it because you lost the toss, or it leaves the battlefield, then you still flip for the second ability.
No other card is named in this ruling.
#2October 4, 2004· Wizards of the Coast
The controller of the ability chooses one of their opponents. If this card changes controllers before the ability resolves, you still pick an opponent of the player who controlled it when it was activated.
No other card is named in this ruling.