The $6.3 billion acquisitionof International Game Technology (IGT) and Everi Holdings by Apollo Global Management is one step closer to finalization. Following a unanimous vote by the Nevada Gaming Commission, the merger now moves toward its closing, scheduled for early July 2025. This deal, which will combine IGT’s gaming and digital sectors with Everi, represents a major shift in the gaming industry, setting the stage for a...
Kalshi, the New York-based prediction market startup, has announced a successful funding round that values the company at an impressive $2 billion. The Series C round, which raised $185 million, was led by Paradigm, a renowned venture-capital firm with a strong background in crypto investments. Notable investors such as Sequoia Capital, Multicoin Capital, and Citadel Securities CEO Peng Zhao also...
Arizona’s sports betting market experienced a surge in betting activity in March 2025, with bettors wagering an impressive $887.4 million, marking a 16.8% year-over-year increase compared to March 2024. Despite this rise in betting handle, the state saw a decline in revenue, with sports betting taxes and overall earnings dipping significantly. A strong month for sports betting handle: According to the Arizona Department...
PointsBet’s battle for control intensifies as its shareholders narrowly approved a takeover deal with Japanese firm MIXI, but not without a significant challenge from rival bidder Betr Entertainment. Despite the seemingly overwhelming support for MIXI’s AU$1.20-per-share offer, Betr claims that its votes were improperly excluded, throwing a legal wrench into the approval process. As the dispute continues, the future of PointsBet remains uncertain. Dispute over...
Japan has confirmed the appointment of Toshiyuki Shimada as the new Secretary General of the Japan Casino Regulatory Commission (JCRC), effective July 1. This decision marks a pivotal shift in the country’s regulatory landscape, as Shimada steps into the role following the tenure of Takuya Sakaguchi, who has held the position since July 2023. Shimada’s promotion comes at a critical time when Japan...
In 2025, California lawmakers have introduced a powerful new bill aimed at banning online sweepstakes casinos, setting the stage for a pivotal battle over online gambling regulation. The bill, led by Assemblymember Avelino Valencia and backed by the influential California Nations Indian Gaming Association (CNIGA), targets a growing segment of the gaming industry that tribes view as a direct threat to their exclusive right to...
Light & Wonder has secured a small but significant legal victory in its ongoing intellectual property dispute with rival Aristocrat Technologies, marking a crucial moment in the companies’ fierce competition within the gaming industry. The U.S. District Court for the District of Nevada ruled that Light & Wonder does not need to disclose the mathematical models behind its popular Hold...
Rhode Island’s hopes to expand its online sports betting market were dashed when Senate Bill 748, which aimed to open the state’s market to multiple operators, failed to progress in the House of Representatives. Despite initial Senate approval, the bill struggled to gain traction, ultimately stalling before the conclusion of the state’s 2025 legislative session. This means International Game Technology...
Star Entertainment Group has successfully gained shareholder approval for a vital AU$300 million rescue package that is poised to help the company navigate its ongoing financial turmoil. The capital infusion, which was overwhelmingly supported by shareholders at a general meeting held on June 25, has been hailed as a crucial lifeline for the Australian casino giant, whose financial position has been under severe pressure...
Shares in Hacksaw AB have commenced trading on the Nasdaq Stockholm Main Market, following the completion of a highly successful initial public offering (IPO). The company, which specializes in B2B technology platforms and game development for the iGaming industry, has been valued at approximately €2 billion following the offering. IPO overview and strong demand: The listing is a significant milestone for the Sweden-based company, which has been...