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Business
October 8, 2024
Esportes da Sorte Acquires ST Soft, Hopes to Open a New Leaf
Brazilian betting operator Esportes da Sorte has successfully obtained authorization to operate in Rio de Janeiro, thanks to its acquisition of ST Soft-operated Apostou.com, which had already received licensing by the state’s lottery provider Loterj in November 2023. This move allows Esportes da Sorte to establish a presence in the lucrative Rio de Janeiro market […]
Business
October 8, 2024
PENN Entertainment Unveils Preliminary Q3 Financial Results
Today, PENN Entertainment revealed its preliminary financial results for the third quarter ending 30 September 2024, highlighting stronger-than-expected results for its interactive unit, Penn Interactive, which includes the ESPN Bet platform. The company noted the digital segment was performing better than projected, expressing a stable outlook for its retail operations going into 2025. Overall Financials […]
Business
October 8, 2024
Rhode Island Market Is Shrinking Under Neighboring States’ Pressure
According to a report from the Rhode Island Office of the Auditor General, the Rhode Island Lottery transferred $426.4 million to the state’s General Fund for the fiscal year ending June 30, 2024. This represents a drop of 1.8% or $8.2 million, compared to the previous fiscal year. The report attributed Rhode Island’s decline to […]
Business
October 8, 2024
Regulus Partners Deems Flutter’s US TAM Forecast Overly Optimistic
Global strategic advisory business focussed on the sports and leisure sectors, Regulus Partners (RP), has expressed doubts regarding Flutter Entertainment’s forecast for the total addressable market (TAM) in the US sports betting and iGaming sectors, raising concerns over the company’s optimism. Overly Optimistic Projections Could Hit Challenges Last month, the operator with a market-leading position […]
Business
October 8, 2024
Rivalry Further Shrinks Its Workforce amid Strategic Refocus
Rivalry, a next-gen sports betting and media company, announced that it has laid off 28 employees, including its global marketing director. The new redundancies are a part of a company restructuring, according to EGR. Another Few Dozen Employees Have Been Dismissed As reported, the restructuring comes amid Rivalry’s shift toward the crypto betting sector. Earlier […]
Business
October 8, 2024
Gentoo Media Rebrands GiG Comply as Sitebee
Gentoo Media has announced the rebrand of GiG Comply as Sitebee, reflecting the company’s recent spin-off from GiG. The move comes several days after GiG was split into GiG Software and Gentoo Media. The New Identity Reflects Gentoo’s Own Rebrand GiG Comply, now known as Sitebee, is the company’s cutting-edge SaaS solution that has been […]
Business
October 8, 2024
JPMorgan Acquires Stake in Australia’s Star Entertainment
JPMorgan Chase & Co. has bought a big chunk of Star Entertainment Group, an Australian casino company that is having money troubles. JPMorgan Buys 5.47% of Star Entertainment as Casino Operator Battles Regulatory Scrutiny A new report shows that JPMorgan now owns 5.47% of the company’s voting shares, which means it is getting more involved […]
Business
October 7, 2024
Steve Wynn Lowers Price of NYC Penthouse after No Buyer Is Found
Billionaire and casino mogul Steve Wynn has been trying to sell a luxurious penthouse in New York City. However, since no buyer has been found yet, the businessman was forced to lower the price by some $20 million. Steve Wynn Failed to Sell the Luxurious Property According to Realtor, the residence on sale is currently […]
Business
October 7, 2024
Paysafe Becomes the GiG-Endorsed Payments Provider for CoreX Partners
Payments specialist Paysafe has formed a new partnership with GiG Software. This deal comes just after the latter company completed its spin-off from GiG Media, now known as Gentoo Media. Paysafe Supplies GiG with Key LPMs Per the deal, Paysafe has become the GiG-endorsed payments platform for all UK, continental European, North American and Latin […]
Business
October 7, 2024
Two Investors Condemn Playtech’s €134M Executive Bonus Proposal
Ahead of the finalization of the sale of Snaitech, Playtech’s business-to-consumer (B2C) arm, to Flutter Entertainment in a multi-billion-dollar deal, investors in Playtech criticized a proposed compensation package of more than $100 million. Palm Harbour Capital Criticized the Remuneration Proposal The aforementioned compensation package was confirmed back in September. The proposal seeks to benefit Playtech’s […]
