This week, the gambling industry experienced significant activity, highlighted by key regulatory updates and major developments. Casino House Group News provides a brief overview of the leading stories. Despite facing legal and regulatory challenges, crypto casinos continue to generate substantial income, with a recent report revealing that their gross gaming revenue in 2024 reached $81.4 billion. This impressive figure underscores the sector's growing popularity and promising potential. The year 2024 proved to be another successful one for the crypto casino industry, building on a growth trend that has been evident in recent years. Remarkably, since 2022, the industry's gross gaming revenue has increased fivefold.
Business and finance
This week, Soft2Bet, a leading iGaming content and solutions provider, proudly announced that it received three prestigious accolades from The European – Global Banking & Finance / Sustainability & ESG Awards. The company was honored with the Innovation Leader in Responsible Gaming and Sustainability 2025 Award, the Outstanding Customer Support in iGaming 2025 Award, and the Pioneering Visionary in the iGaming Industry 2025 Award. Resorts World Las Vegas, renowned for its exceptional experiences, luxurious accommodations, and diverse gambling options, enhanced its senior management team by appointing Jennifer Roberts as Chief Compliance Officer (CCO). Roberts, who brings over 20 years of experience in the legal and compliance field, is a valuable addition to Resorts World's leadership team. In her new role, she will manage important regulatory and compliance processes, oversee policies, licensing, and registration, and play a crucial role in mitigating compliance risks and conducting operational assessments. Xpoint, a leading geolocation company, recently named Tom Flaherty as Chief Financial Officer (CFO). Flaherty's diverse skill set is poised to reinforce Xpoint's leadership position as a provider of geolocation software and solutions to the online gambling industry. In 2024, an attempted kidnapping targeted Tim Heath, the Founder of Yolo Group, just days before the opening of the Bombay Club in Tallinn, Estonia. Following this failed abduction, Heath has filed a €3.2 million legal claim against the four suspects. His legal team seeks compensation for moral damages incurred due to the incident. The Harju County Court is now tasked with evaluating the lawsuit. Additionally, IGT, a global supplier of games, software, and technology for both online and land-based operators, introduced its latest gaming cabinet in the United States. The Wheel of Fortune Diamond RS Premium Wheel cabinet was recently launched for players at Sky River Casino in Elk Grove, California, and Mohegan Sun in Uncasville, Connecticut.
Regulation and laws
In New York, a new sports betting bill, A07962, introduced by Assemblyman Robert Carroll, aims to enhance consumer protection by setting a daily betting limit for account holders. Additionally, the bill proposes new regulations for gambling advertising that would prohibit firms from promoting odds boosts, and it includes restrictions on bonuses and promotions. In Sweden, Videoslots, a leading iGaming operator, received a $1.26 million fine from the Swedish Gambling Authority, Spelinspektionen. This penalty was imposed due to alleged failures in upholding responsible gambling standards. The regulatory body began investigating Videoslots in 2024 and ultimately identified responsible gambling deficiencies involving a dozen customers. Across the Atlantic, in New Jersey, a court ordered the identification of the entity behind a controversial report against Evolution, revealing it to be Black Cube, an Israeli private intelligence firm. Although the firm’s identity has been disclosed, numerous questions linked to the 2021 report remain unanswered. In Maryland, Kalshi, a rapidly growing prediction market platform, has entered a legal dispute with the state’s gambling regulator. This action follows a cease-and-desist letter sent by the Maryland Lottery and Gaming Commission earlier this month. In Nevada, MGM Resorts International, a leading name in gaming and entertainment, is nearing a resolution of alleged violations related to anti-money laundering and illegal gambling. The company is likely to agree on an $8.5 million settlement with the regulatory authorities.
Responsible gambling
In Japan, a recent survey conducted by SMBC Consumer Finance revealed that nearly 20% of young adults prioritize spending on video games over essential living expenses. Specifically, about 18.8% of the 1,000 respondents confessed to choosing in-game purchases over necessities such as rent. This indicates that 1 in 5 young Japanese adults is willing to allocate their finances toward digital goods in video games rather than covering daily living costs. In other news, the Netherlands Gambling Authority (KSA) has released its latest assessment of the country's gambling sector. The report demonstrates that responsible gambling measures, implemented in October of last year, have yielded positive results by encouraging participation in the legal gambling market. However, despite this positive trend, the illegal gambling sector continues to pose a significant challenge to the industry in the Netherlands.
The voice of the industry
This week, Casino House Group News had the pleasure of interviewing Anna Krimova, the Head of Sales at Amarix. She discussed the rising popularity of games tailored to individual players' styles and the challenges of engaging with different age groups. Earlier, Casino House Group News published an analysis on the scrutiny surrounding gambling advertisements by regulators, lawmakers, and stakeholders. Despite widespread disapproval, these ads continue to reach global audiences. The news outlet also explored the recent discussions involving Mark Zuckerberg and the UFC, sparked by a rumored fighting challenge between Zuckerberg and fellow billionaire entrepreneur, Elon Musk. Although much has been said, the Zuckerberg-Musk fight has yet to occur.
