The gambling industry experienced another eventful week, and Casino House Group News provides a summary of the sector's significant developments, including key business advances and regulatory updates. Cirsa, a gambling operator owned by Blackstone, is preparing for an Initial Public Offering (IPO) in Spain, aiming for a market valuation of €2.5 billion ($2.95 billion). Shares valued at approximately €400 million are planned for sale, with the potential for issuing an additional €68 million in shares if demand warrants. xQc, one of the world's leading casino streamers, is known for his expressive broadcasts and his notable switch from Twitch to Kick. He frequently uses the online casino Stake. A recently released screenshot revealed that xQc has wagered an astounding $3.6 billion through Stake.
Business and finance
A recent report from Yield Sec, a leading online intelligence platform, for the Campaign for Fairer Gambling, highlights how illegal sports streams are driving a multi-billion-dollar illicit gambling market. According to the data, sports fans in the United States accessed an astonishing 4.2 billion illegal sports streams longer than 90 seconds last year alone. Alarmingly, the report reveals that 82% of these illegal streams promoted unlawful gambling activities, and 84% contained malware, spyware, or keystroke loggers. Consequently, these illegal streams have contributed to a black market for gambling, estimated to be worth $67 billion. In related news, Intralot, a leading company in gambling, transaction processing systems, betting management, and game content, announced its acquisition of Bally's Interactive is progressing. The €2.7 billion deal recently received approval from the boards of both Bally's Corporation and Intralot. This significant acquisition is expected to be completed by the end of the year, with Bally's Interactive starting operations under Intralot's umbrella. The merger is anticipated to create new synergies, allowing both companies to expand further. Earlier this week, Brightstar Lottery announced it had finalized the sale of its Gaming & Digital business to Apollo Global Management. This divestment was completed on July 1, following a rebranding of IGT Lottery, now operating as Brightstar Lottery. Brightstar Lottery is currently trading under the new ticker symbol BRSL on the New York Stock Exchange. After finalizing the sale, the company confirmed plans to use $2.0 billion to reduce debt and return $1.1 billion to shareholders. Additionally, Hasbro, a leading games and toy company, signed several multi-year licensing agreements to extend the reach of its renowned brands in the casino sector. Partnering with Aristocrat Technologies, Bally's, Galaxy Gaming, and Evolution, Hasbro aims to engage fans across platforms. Claire Hunter Gregson, Hasbro's Director of Gaming Relationships, remarked, We’re all about play—and that means meeting our fans wherever they are, from the game table to the casino floor. These partnerships will introduce new games featuring Hasbro’s popular brands and characters, including online casino games, slots, and new land-based casino table games and slots.
Regulation and laws
New Jersey is poised to become a pivotal player in North America's gambling industry by potentially increasing its gambling tax and banning sweepstakes, pending approval of two bills by Governor Phil Murphy. Should these bills be signed into law, New Jersey will join other states in prohibiting sweepstakes casinos and will raise the gambling tax to 19.75% of gross gaming revenue for online gaming operators. Meanwhile, in New Zealand, the introduction of online casinos is anticipated for 2026. As the country moves forward with online gambling, it plans to grant licenses to 15 online casino operators while restricting sports betting to a single provider. Prospective operators can apply for a license to offer their services, mirroring trends in other gambling markets. In the UK, the Gambling Commission has imposed a £170,000 fine on Taichi Tech Limited, which operates as Fafabet, due to unfair terms and conditions. Furthermore, Fafabet reportedly neglected to address situations where players exhibited signs of potential gambling-related harm, as stated by the regulator. In the United States, the Equal Employment Opportunity Commission identified violations of civil rights laws by The Venetian Resort Las Vegas for failing to accommodate employees' religious beliefs, starting in 2022. As a result of the lawsuit, The Venetian is required to compensate the affected employees with approximately $850,000. Over in Europe, Betsson, a leading betting and gaming operator, has been ordered by the Supreme Court of Sweden to repay a problem gambler €500,000, or nearly SEK 5,000,000, as reported by local media outlets.
Responsible gambling
Denmark has taken a significant step in combating illegal gambling by issuing its largest-ever blocking order, which targets 178 websites. This action comes after the Frederiksberg court granted permission, allowing the country's regulator, Spillemyndigheden, to block these illegal gambling operators. The move underscores Denmark's commitment to reducing the prevalence of illegal gambling. With this ban, the total number of blocked unlicensed gambling sites has risen to 616. In the UK, the prominent charity GambleAware has urged the National Lottery to promote more responsible gambling messages. Given its reach among those experiencing gambling harm, the National Lottery plays a crucial role in preventing and reducing this issue, the charity stated. Recently, DraftKings, a leading betting and gaming company with a strong presence in the US, launched the My Budget Builder Responsible Gambling tool. This new feature, with its user-friendly design, enables players to easily set betting limits and access important information about their gambling expenditures.
The voice of the industry
This week, Casino House Group News had the opportunity to interview Katarzyna Pysz, the Head of Gamification at 3 Oaks Gaming. During the conversation, she highlighted the significance of offering innovative features and promotional content, along with other trending topics. Earlier in the week, Casino House Group News published an intriguing analysis about Katrina Bookman, a woman who nearly won $43 million at Resorts World Casino in New York. Unfortunately, her winnings were withheld, with the casino claiming that the game she played had malfunctioned.
