Spribe has achieved a significant victory in the United Kingdom, successfully claiming copyright infringement against a major competitor, while Light & Wonder is turning towards the Australian Stock Exchange. This week has been pivotal in the world of gambling news. Spribe, the innovative creator of next-gen games beloved across global online casino markets, reached an important legal win against Aviator LLC, a Georgian firm. Recently, the UK High Court granted Spribe an interim injunction, stopping Aviator LLC from marketing or launching a knockoff of Spribe's popular game, Aviator. Meanwhile, Light & Wonder made waves by announcing its decision to relocate its stock listing. The gaming giant is moving from NASDAQ to the Australian Stock Exchange, ASX. This strategic shift was revealed by the company's CEO, Matt Wilson, during the second-quarter earnings call, leaving investors both surprised and intrigued. It was a carefully thought-out decision, not a fleeting impulse.
Business & finance
Bet365 is making remarkable strides in the United States, now marking its presence in the 14th state, Kansas. This expansion is a bold step forward for the sportsbook, especially as many competitors, including Super Group, are stepping back from the American market. In Texas, after spirited debates, the Lottery Commission has finally decided to award $83.5 million to a lottery winner from February. This Texan resident faced a frustrating delay due to a fierce political argument about whether using courier services is a legal way to purchase tickets. Despite these challenges, Kristen Moriarty will be taking home $45.8 million before taxes, having opted for a one-time lump sum payout. Meanwhile, SkillOnNet is set to rekindle excitement by relaunching its MegawaysCasino, reviving the beloved hub known for its thrilling megaways features. Exciting details about this launch are on the horizon. A new report by Yield Sec sheds light on the gambling industry in the US, uncovering that around 74% of a staggering $90.1 billion revenue flows through non-regulated websites. The findings reveal 917 illegal gambling sites operating in the nation compared to just 106 legal ones. This stark contrast highlights the immense journey ahead for the United States in capturing even half of its gambling market spend legally.
Laws & regulation
VNLOK, a trade group from the Netherlands, is sounding the alarm on a tax increase that's shaking up the playing field for licensed operators. They argue it's putting a damper on competition and reducing the central government's tax revenue. The Dutch Gambling Authority backs this view, recognizing the tax has backfired. Instead of shielding consumers, it's inadvertently giving unlicensed operators an edge. Meanwhile, Ferdinand Marcos Jr., the President of the Philippines, is approaching new regulations for the domestic online gambling sector with caution. Overseen by PAGCOR, this sector is at the heart of a heated debate: whether to tighten restrictions or shut it down entirely. In the US, the American Gambling Association (AGA) is pushing for change. A recent survey shows players see sweepstakes casinos as real gambling, mainly seeking wins. With this insight, the AGA aims to urge policymakers to regulate sweepstakes under the same laws as online gambling, closing the existing loophole. In Michigan, authorities are cracking down on illegal gambling websites. Six new domains have received cease-and-desist letters and are given 14 days to comply. These actions follow the same legal framework used against previous offenders, targeting operators lacking a proper license from the Michigan Gaming Control Board.
Responsible gambling
The topic of responsible gambling took center stage this week, sparking important conversations and significant developments. Firstly, the National Council on Problem Gambling celebrated a key decision by the Senate Appropriations Committee. They've chosen to allocate funds specifically for investigating gambling-related harm among U.S. military personnel, seeking to understand how gambling impacts their lives. New research findings shared with the Massachusetts Gaming Commission have revealed two significant trends in the state's gambling scene. Over the years, public opinion has been shifting, with more than half of gamblers now recognizing the damaging effects of gambling. Furthermore, the data shows a troubling increase in the number of individuals suffering from gambling-related issues, highlighting an urgent need for new strategies to address and mitigate this growing problem.
The voice of the industry
Ivan Kurochkin, a Partner and the Head of the Consulting Department for Eastern Europe at 4H Agency, passionately discussed how the Netherlands has set a new benchmark in enforcement, even amid regulatory challenges. With an ambitious goal of reaching 100 million active players by 2028, his interview with Natroshvili is truly captivating and should be watched in full.
