UK Tote Group chief executive Alex Frost will step down at the end of 2026 after nearly nine years in the role, with James Coxon appointed as his successor. Frost will remain with the business during the transition, serving as an executive director in 2027 before moving into a non-executive board role. “It has been a great honour to lead...
Eight Washington casinos previously listed for closure are expected to remain open after Maverick Gaming owner Eric Persson moved to buy the properties back from lenders, preserving around 850 jobs if the transaction closes as planned. The casinos had been scheduled to close on November 30 under Worker Adjustment and Retraining Notification notices filed by Maverick Washington LLC. Persson now...
Finland’s Supreme Administrative Court has ruled that a professional bettor can deduct losing wagers from taxable betting income, ending a dispute that lasted more than five years and establishing a precedent that could influence the country’s gambling market ahead of major regulatory changes in 2027. The case involved Antti Koivula, a professional bettor and Chief Compliance Officer at Hippos ATG,...
A federal court in Illinois has granted partial preliminary injunctions to Kalshi, Coinbase and the Commodity Futures Trading Commission (CFTC), preventing the state from enforcing certain sports-wagering licensing requirements against specific sports-event contracts traded on federally regulated exchanges. The Oct. 2 decision by U.S. District Judge Martha M. Pacold marks a significant development in the ongoing legal battle between prediction...
Sweden’s gambling regulator has suspended Charm Entertainment’s casino license after an investigation into accounting issues and compliance concerns. Sweden’s gambling regulator has ordered Charm Entertainment AB to stop all licensed casino operations after issuing a temporary revocation of the company’s land-based gaming license. The decision follows a regulatory investigation that examined the operator’s compliance with gambling legislation as well as...
Bally’s Corporation has completed a $560 million financing package for its proposed casino resort in the Bronx, giving the company fresh capital for pre-construction work on the roughly $4 billion development. WhiteHawk Capital Partners led the financing. Bally’s received $400 million in term loans at closing, while another $160 million will be available through delayed-draw commitments. The company plans to...
Paf has reached an agreement with Meta to test a new system for identifying unlicensed gambling operators and affiliates advertising through the platform. The pilot will begin in Switzerland, where Paf plans to share licence documents and website URLs with Meta. The information is intended to help the platform distinguish authorised gambling businesses from advertisers targeting the market without the...
Kangwon Land has formed a new Organizational Diagnosis and Innovation Committee to review its management structure and major strategic projects, including the feasibility of the KRW3 trillion K-HIT resort transformation programme. Chief executive Kim Do-gyun launched the committee after a prolonged period without a permanent CEO. The group held its first meeting on October 2 and will work through the...
Pennsylvania State Police will begin seizing unlicensed skill game machines on October 14 after the state Supreme Court classified the devices as slot machines under Pennsylvania gaming law. Businesses have until October 13 to remove the machines and related equipment. After that date, establishments that continue to possess or operate them could face criminal prosecution, seizure of proceeds and other...
Conflicting statements from the Seneca Nation and New York State have created uncertainty over the status of negotiations for a new gaming compact, with questions remaining about whether an agreement has been reached and whether future casino revenue-sharing payments will continue to flow to local governments. The debate intensified after Seneca Nation President J. Conrad Seneca announced that negotiators had...