Author: David Randall

In January, an initiative to legalize sports betting in California was abandoned after encountering strong resistance from tribal communities, despite previous adjustments aimed at garnering their support. The proposal, spearheaded by Eagle1 Acquisitions Corp, sought to give tribes exclusive rights to sports betting but faced opposition, leading to its failure. The California Nations Indian Gaming Association (CNIGA) highlighted this event as a cautionary tale against future legalization efforts without tribal involvement, emphasizing the importance of respecting tribal sovereignty in these matters. Optimism remains for a successful legalization effort in the future, with anticipation building towards the 2027 Super Bowl in…

Sports enthusiasts in Kansas are now eligible to engage in sports betting through the newly available Fanatics Sportsbook app. This development is notable for existing PointsBet users, as their account details, including usernames, passwords, account balances, rewards, and any preferences for responsible gaming, will be seamlessly transferred to the Fanatics platform. This strategic move signifies Fanatics’ expansion into its 17th state in the United States, marking a significant milestone following its recent entry into North Carolina’s legal sports betting scene. Fanatics has been on a rapid growth trajectory, evidenced by its expansion into New York, replacing PointsBet, and similar transitions…

In a rapid series of events that unfolded within three weeks, a package of bills aimed at legalizing sports betting passed through the Senate but stalled before reaching the full House for consideration. Despite the House Higher Education Committee’s approval of two key legal sports betting bills—a constitutional amendment and enabling legislation—early on a Thursday, the Rules Committee, despite meeting multiple times that day, did not move the bills forward. This marked the fourth consecutive session where Georgia lawmakers failed to agree on legal sports betting, with the issue becoming a point of contention yet again. The failure to reach…

The gaming and betting company 888 Holdings has recently unveiled a comprehensive restructuring plan following a strategic review that began in early March. This review aimed to explore various options to enhance shareholder value, including a partial or complete sale of its US B2C (Business to Consumer) operations. The company announced a sale agreement with Hard Rock Digital, though specifics about the assets and financial terms remain undisclosed. 888 expects this deal to conclude in stages, with completion anticipated by the fourth quarter of this year, pending necessary regulatory approvals. 888’s strategic evaluation revealed that its gross profit margin in…

In 2023, Playtech, a notable figure in the gaming industry, announced a 6.6% increase in revenue from continuing operations, reaching €1.71 billion. This growth was attributed to advancements in both its B2B and B2C segments. The company’s CEO, Weizer, underscored the importance of the U.S. market, highlighting the opening of a third live casino in Pennsylvania and the expansion of its license portfolio to 11. Notably, the B2C division crossed the €1 billion mark in revenues for the first time, with Snaitech playing a crucial role in this achievement. Weizer expressed gratitude towards Playtech’s global team for their resilience amidst…

888 Holdings reported a significant improvement in its financial performance for FY2023, with adjusted EBITDA reaching £308.3m, up from £217.9m the previous year. The company also saw a substantial increase in revenue, totaling £1.70bn compared to £1.24bn in 2022, despite facing a net loss of £56.4m, a notable improvement from the £120.5m loss reported in 2022. Basic loss per share halved to £0.126 from £0.283. The increase in revenue and adjusted earnings contrasts with a 25% decline in adjusted profit after tax, down to £48.1m. Despite this, the company’s performance met expectations set in its January 2024 Post Close Trading…

In a recent legal development,’s former proprietors, including members of the Singels family, ex-CEO Melvin Bostelaar, and previous marketing director Robert Kooiman, have lodged a counterclaim against Entain. This action is a direct response to accusations by Entain concerning undeclared regulatory investigations which purportedly devalued the Dutch business by as much as €156 million. The dispute surfaced after Entain acquired BetCity for €450 million in January 2023, a move that facilitated Entain’s entry into the Dutch market. BetCity was among the first ten licensees in the Netherlands at that time. Entain’s claim, initiated in January of the current year, emerged…

Penta, an investment group, is considering various strategies for the future of its Fortuna franchise, a prominent betting and gaming operator in Central and Eastern Europe. Fortuna operates in Poland, Croatia, Romania, Slovakia, and the Czech Republic, offering gambling services through both physical betting shops and online platforms under the brands Fortuna, Casa Pariurilor, and PSK. A potential sale of Fortuna is speculated to fetch up to €2 billion, as reported by Reuters. Penta initially invested in Fortuna in 2005, acquiring a 79.8% stake by 2017 and subsequently took full control in 2018 through a takeover bid executed by its…

Gambling.com Group has entered into a financial agreement with Wells Fargo Bank, securing a $50 million credit arrangement. This deal comprises a $25.0 million revolving credit facility and an equal amount in a term loan facility, set to mature on March 19, 2027. Wells Fargo may approve an incremental increase of up to $10.0 million to this facility. The purpose behind this financial maneuver, as stated by the group, is to bolster general corporate undertakings and to manage deferred consideration payments. Furthermore, the credit is expected to support potential expansion opportunities. Gambling.com Group’s CFO, Elias Mark, emphasized the significance of…

On May 1, Jason Park will assume a newly established position at DraftKings, marking a significant transition after nearly five years as the Chief Financial Officer (CFO) since his start in June 2019. This strategic move positions Park to spearhead technology deployments aimed at enhancing operational efficiencies and to manage the integration of the impending $750 million acquisition of Jackpocket, a development that was publicized last month. DraftKings’ co-founder and CEO, Jason Robins, expressed his decision to appoint Park for this crucial role, emphasizing the anticipated benefits in terms of profitability and operational improvements. Robins highlighted Park’s extensive experience, including…