iGaming Horizon Ep #4: FanDuel cuts jobs, Kalshi teams up with Sportradar, Barry Diller's People Inc makes a move to buy MGM Resorts

The time has come for the new episode of iGaming Horizon. In episode #4, AI Hosts Nate and Mike discuss the most important updates from the gambling industry.

Listen to the newest iGaming Horizon episode #4 on Spotify here.

The duo looked into the ongoing hot topic of prediction markets as well as challenges related to the World Cup. "In this edition, we’re looking at Kalshi’s new Sportradar partnership, FanDuel’s workforce reduction, World Cup black-market pressure, and the Brendan Sorsby gambling case," Mike said early in the episode. Nate responded: "We’ll also cover Barry Diller’s move on MGM Resorts, Bally’s Intralot and evoke, Mancala Gaming’s brand refresh, and Evoplay’s football-driven instant game strategy."

Mike encouraged Nate to start with prediction markets, focusing on one recent groundbreaking data and solutions deal. "Kalshi has named Sportradar as its official data and solutions provider," Nate said, to which Mike responded: "And that matters because prediction markets are still facing legal and regulatory pushback across the United States."

According to Nate, the new collaboration grants Kalshi access to "official sports data, live odds, fan engagement tools, customer acquisition support, and integrity services." Mike agreed that the last part is of great importance. "It really is. One of the biggest criticisms of prediction markets is whether they have enough safeguards and integrity controls in place," Nate responded.

He continued saying that thanks to official league data, Kalshi can settle trades faster, while ensuring a smoother customer experience. "But the bigger message is that Kalshi is not waiting for the regulatory debate to end," Mike added. He explained further: "Sportradar also described prediction markets as a growth engine for the sports ecosystem."

Jumping into the next story, Nate said: "FanDuel has reportedly reduced its workforce again." Then, Mike continued: "Several reports say hundreds of employees were affected across the business, including the Sportsbook department."

"Internal communication from Karol Corcoran, Managing Director of Sportsbook, acknowledged that the company had said goodbye to a number of talented teammates," Nate added. He agreed with Mike that there's a difficult human side to stories about job cuts, adding that FanDuel "may frame this as optimization, but for employees, it is still people losing jobs."

Mike responded: "FanDuel has already gone through multiple reductions over the past year." Nate then said: "Right. The wider industry context matters. Companies are trying to become leaner, and AI-driven efficiency is now part of that conversation."

Asked by Mike why the job cuts are coming now, Nate explained that scaling up isn't enough in the current gambling landscape. "Investors want efficiency, stronger margins, and clearer cost discipline," he added.

Mike continued with the next story, which looked into challenges related to the 2026 FIFA World Cup, which kicked off only recently. "The Betting and Gaming Council has warned that illegal operators could take between £200 and £250m in UK bets during the tournament," Nate explained. Mike's response: "Around £1bn pounds is expected to be wagered with regulated operators in Britain."

Nate acknowledged that the sheer size of the legal gambling vertical is significant. However, the share of the illegal gambling industry remains "substantial." Mike then said: "Especially when the World Cup brings in casual bettors who may not know the difference between licensed and unlicensed sites."

As the newest episode of iGaming Horizon continued, the two hosts discussed the injunction win by Brendan Sorsby against his NCAA ban, which cleared him to play. "Sorsby, a Texas Tech University athlete, was blocked from play by the NCAA after placing more than 90,000 dollars in wagers," Mike explained. Nate added: "That included bets on several sports and outcomes, including his own team."

While Mike acknowledged that the described issues were a serious breach of the NCAA gambling rules, Nate responded: "It is. But a Texas judge issued a temporary injunction, saying Sorsby would face irreparable harm if he were not allowed to play."

Mike and Nate continued the podcast episode by discussing Barry Diller’s People Inc move to buy MGM Resorts. "The offer values MGM at around $18bn," Mike said. "People Inc. already has a stake in MGM and wants to acquire the remaining 74% it does not control," Nate outlined. He continued saying that the potential acquisition follows another major development in the gambling industry, namely, Tilman Fertitta’s $17.6bn bid for Caesars.

"So two major Las Vegas casino groups are suddenly tied to massive takeover stories," Mike recapped, to which Nate responded: "Exactly. That tells us how investors are looking at the sector."

Nate continued the podcast episode with another major acquisition story. "Another major acquisition story: Bally’s Intralot has recommended the acquisition of evoke plc," he said. "Evoke owns William Hill and 888, so this is a meaningful target," Mike added.

Nate then pointed out: "Exactly. The offer is an all-stock deal valued at 52 pence per evoke share. That puts the equity value at £243.1m, with an enterprise value of £2.2bn."

"A 77 percent premium over the three-month volume-weighted evoke share price before the announcement," he continued. Mike added: "So Bally’s Intralot is trying to create a stronger European gaming group."

"Next story: Mancala Gaming is going through a brand and product refresh," Mike continued. "The company has launched its Un-Boring update under the motto: You click. You stick," the other podcast host outlined. The two agreed that Mancala Gaming's move represents a "direct message," and Nate continued saying: "Mancala is trying to sharpen its identity and increase the pace of production."

"Faster production, clearer branding, and easier navigation for partners and players," he further outlined. Then, Mike asked whether "whether speed and originality can go together," and Nate responded, saying: "That’s the challenge. More games can help visibility, but quality still matters."

Continuing their discussion, Mike and Nate focused on Evoplay's instant football phenomenon, Penalty Shoot-out. The original instant game, which launched in 2020, became an unquestionable hit and one of the most beloved Evoplay titles that touched players and operators alike.

"Evoplay’s Penalty Shoot-out franchise is showing how sports-themed instant games can become a serious commercial engine," Nate said. Mike highlighted the initial game release in 2020, and Nate then said: "Since then, it has grown into a five-game franchise, with strong performance across Latin America and Europe."

Mike pointed to the strong numbers of the Penalty Shoot-out franchise and Nate continued saying: "Very strong. The franchise has outperformed the top 10 instant games by 77 percent in GGR, and Penalty Shoot-out: Street has performed even stronger against top instant-game benchmarks."

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