Flutter profits set to soar, Aristocrat triumphs, Sorare in trouble with the UKGC

The gambling industry is mostly focused on the SBC Summit Lisbon this week, one of the largest get-togethers in the history of the sector, but there has been much interesting news from all over the world.

For starters, Flutter Entertainment is set to beat all expectations, the company recently reported. The group is hoping to double its full-year profit from $2.5bn in 2024 to $5bn in 2027, and it further noted that it would be trebling its core profit in US states where it currently operates to $2.5bn in 2027, up from $680m-$800m today.

Bovada, an offshore gambling operator has said that it is withdrawing from Pennsylvania, Kansas and Louisiana. The operator did not make a public statement but rather updated the list of jurisdictions where the company is no longer available. Bovada has been quietly pushed out of the US market, as regulators are becoming aware of offshore brands that are operating without the necessary licenses in their states.

Meanwhile, the SBC Summit Lisbon attendance rate was up 67% on the opening day, the event organizers reported. The event was joined by Portugal's Minister of Economy, Pedro Reis.

The event concluded on Thursday, September26, and addressed many of the pressing issues of the sector, from sports betting to new technology, to regulatory headwinds, to the competitiveness of individual markets, and not least, the significance of responsible gambling.

Regulation & Updates

There have been several high-profile regulatory updates this week. For starters, the UK Gambling Commission is ready to take Sorare, a crypto platform that offers digital collectables known as NFTs, to court next week.

The UKGC alleges that Sorare has been offering illegal gambling in the United Kingdom. The investigation has been ongoing since 2021. Sorare, which is a Premier League partner, has denied the allegations.

In the meantime, the German gambling regulator, the GGL, has started banning illegal gambling websites in the country, thanking public support for tipping the watchdog.

The GGL has received more than 1,500 reports about illegal gambling advertisements or operations since the beginning of 2023 and has launched 133 prohibition hearings resulting in the banning of 60 websites this year alone.

In a triumphant legal move for Aristocrat Technologies, the company has been able to block the arrival of Light & Wonder’s Dragon Train game in the United States, following a court order this week.

Although Light & Wonder has politely disagreed with the ruling of US District Court Judge Gloria M. Navarro and is preparing an appeal, the company is in good standing, and not expected to suffer a financial blowback.

Aristocrat alleged in its complaint that Light & Wonder had accessed internal documentation that allowed it to bring a new product to bear much quicker and save money because of tapping into Aristocrat’s own work. Light & Wonder is facing a similar case against it brought by Evolution.

Business & Finance

Evolution, a global iGaming developer of innovative and cutting-edge products for the online casino sector, has obtained a B2B license from the Isle of Man and will be able to provide its products to jurisdictions that recognize the Software Supplier License.

In other news, Boyd Gaming has purchased Resorts Digital to boost its iGaming arm. The exact sum of the deal was not shared with the public, but Resorts Digital has been the driver of revenue behind Resorts Casino’s operations, outpacing the brick-and-mortar venue significantly.

Meanwhile, LeoVegas Group has bolstered its in-house game development capabilities with the introduction of LeoVegas Studios which has already released its first game this week, Where Pigeons Dare.

Responsible Gambling

A study by Ipsos has found out that GAMSTOP, the UK’s self-exclusion program, is a particularly effective tool that helps players stop their overspending and sliding further into gambling harm.

The overwhelming majority of people who have used GAMSTOP would recommend it to others, and they also find it to be an efficient and useful tool in the fight against problem gambling. The Ipsos report also made recommendations as to how to boost the tool’s effectiveness.

BetBlocker, a leading company that offers anonymous self-exclusion to problem gamblers for free, has launched its Portuguese app version, making its product and services available to 200m people. The announcement was made as the company’s attendance at SBC Summit Lisbon.

Speaking of SBC Summit Lisbon, Entain has put forward a new report in which it advises the government to address the issue of the black market which continues to undermine regulated operators in the United Kingdom, and beyond.

Entain put a new report out in which it offered guidance on how to address the issue of the black market, citing a recent Betting and Gaming Council that suggests the role of the black market is much greater than originally thought in the UK, but also in other markets such as Germany and France.

In the meantime, the UKGC has reminded the industry and media outlets to not misinterpret its data and use it accurately and responsibly. The regulator has taken issue with media representation of its core statistics covering gambling rates in the UK, as well as the number of people experiencing problem gambling.

The Voice of the Industry

This week was another interesting opportunity for us to chat with people from around the industry, and while we were also busy with the SBC Summit, we paid attention to some of the developments across the entire industry.

We caught up with Brett Jackson, Head of Content at IGT Play Digital, with whom we spoke about the Ca$hLink game mechanic and how it has impacted the company’s ability to engage and retain players. The conversation dives deep into the mechanic’s logic but also discusses what makes the basis of a good gameplay element in the first place.

Casino Guru News had the opportunity to once again speak with Duncan Garvie, Trustee and Founder at BetBlocker, one of the fastest-growing global companies focusing on offering free and anonymous self-exclusion services to people who are experiencing gambling-related harm.

In our conversation, we focused on some of the core achievements BetBlocker has been achieving since we last spoke, and Garvie attested that industry enthusiasm for the solution has been exponential. Garvie noted that more and more companies from the industry are stepping up with anonymous donations to avoid criticism that they are trying to "whitewash" their names.

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