US senators on the offensive, Gambling.com makes $160m acquisition

This week saw lawmakers on the offensive once again, with a pair of US lawmakers urging the Federal Trade Commission (FTC) to look into alleged anti-competitive practices by FanDuel and DraftKings.

Sen. Mile Lee and Sen. Peter Welch have said that the Department of Justice’s antitrust division head, Jonathan Kanter and FTC’s chair, Lika Khan, ought to take a closer look at the American sports betting and gaming giants which have been dominating the regulated gambling landscape.

Following a failed attempt to merge their operations, FanDuel and DraftKings have engaged in what the senators believe is anti-competitive behavior and may have breached Section 1 of the Sherman Act. In a X statement, Sen. Lee outlined the case and published a signed letter to Kanter and Khan. Welch had also signed the letter.

The second big development this week has to do with Gambling.com Group buying out Odds Holdings, Inc., the company behind OddsJam, for $160m. The deal, which is expected to close in the first quarter of 2025, is still subject to finalization.

Gambling.com Group has agreed to pay $70m in cash, and offer $10m of its ordinary shares, with another $80m payable throughout the end of 2026, depending on the division’s performance. The group is also acquiring the team behind the platform, bringing its founders and current chief executive onboard.

In the meantime, FanDuel has doubled down on its commitment to Responsible Gambling, with the company launching the My Spend feature, designed to raise awareness about spending habits among players and how much they are actually committing when they play.

The idea is to strengthen player control over their own spending in an intuitive and transparent way. DraftKings, on the other hand, has been hit with a lawsuit by one Lisa D’Alessandro, whose estranged husband, is said to have gambled away millions of dollars on the platform, resulting in a net loss for the man of $1m.

The money, claims D’Alessandro, were taken out of the family children’s saving accounts and her own credit cards. DraftKings is accused of having "nurtured" the addiction and not stepped in sooner to stop the man from spending money that he cleared could not afford to gamble with.

Industry events

There have been several interesting developments as far as events are concerned this week. Taking it from the top, Clarion Gaming said that submissions for the 2025 ICE Landmark Awards are now being accepted. A total of 11 individuals and organizations will be distinguished on February 7, 2025.

HIPTHER Agency has revealed its own calendar for upcoming events in the next year. The company provided details about the Prague Gaming & TECH Summit, MARE BALTICUM Gaming & TECH Summit, and Europe Gaming Congress.

Eventus International has similarly revealed more details about its own upcoming Player Protection Summit 2025 which will once again draw attention to the growing demand for responsible gambling within the gaming industry, equipping companies and decision-makers with insight into what it takes to protect consumers and look out for their well-being.

The organizers also reminded interested parties this week that the upcoming BiG Africa Summit is just several months away, with the event due to take place on February 17-20, 2025 in Gaborone, Botswana.

Clarion Gaming has picked BetBlocker as the official primary partner for 2024/2025. BetBlocker will fulfil its role at both the ICE and iGB Affiliate.

The voice of the industry

This week we had the opportunity to also catch up with Koin Chief Strategy Officer Craig Lisbon with whom we discussed payments and innovation and how his company addresses the complexities of legacy systems, regulatory compliance, and siloed casino operations to deliver transformative solutions.

We also caught up with Pieter Remmers, one of the judges in the Best Implementation of RG Tools and The Most Impactful Social Responsibility Initiative categories, part of the Casino Guru Awards.

Remmers spoke about the awards and the work that companies have been doing to raise standards of player safety and cautioned that much work needs to be done still.

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