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    BetMakers opens FY27 with EBITDA up 176%

    BetMakers reported a 176.1% year-on-year increase in EBITDA to AU$5.9m (£3.1m) for Q1 FY27, alongside a 16.3% rise in revenue to AU$24.7m. The strong operational performance comes as the Australian betting technology provider prepares for an acquisition by Tabcorp.

    Summary based on reporting by SBC News, which retains all rights to its text and images.

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    MGM Digital cuts loss to $4m as LeoVegas-led arm’s revenue growth slows to 6%

    MGM Resorts' LeoVegas-led international digital division narrowed its third-quarter loss to $4 million, approaching break-even behind strong performance in Spain, the Netherlands, and the UK. However, the segment's revenue growth decelerated sharply to 6% compared to the prior quarter. The slowdown comes as operators across the UK and Europe navigate an environment of rising tax burdens.

    Coinbase prediction markets top $200M annualized revenue while Q3 net revenue falls 34%

    Coinbase prediction markets top $200M annualized revenue while Q3 net revenue falls 34%

    Coinbase Global reported a 34% year-over-year decline in third-quarter net revenue to $1.16 billion, missing analyst estimates amid subdued cryptocurrency trading and lower volatility. Despite the downturn in its core exchange business, the company's prediction market division surpassed $200 million in annualized revenue in less than a year of operation. The unit has emerged as one of the fastest-growing segments in the exchange's history.

    Kalshi valuation surges to $40 billion after latest $1 billion funding round

    Kalshi valuation surges to $40 billion after latest $1 billion funding round

    Prediction market operator Kalshi has attained a $40 billion valuation after securing $1 billion in a new funding round co-led by Sequoia Capital and Wellington Management. The investment raises the company's total capital raised to approximately $3.6 billion as it expands into traditional financial trading. The milestone comes as the platform continues to navigate legal disputes regarding its sports-related contracts.

    Bally’s backs Star Entertainment’s turnaround after $182 million penalty

    Bally’s backs Star Entertainment’s turnaround after $182 million penalty

    Bally’s Corporation has expressed support for The Star Entertainment Group's turnaround efforts following a major regulatory resolution in Australia. The backing arrives after the Federal Court of Australia levied a A$260 million ($182.64 million) penalty against Star for historical anti-money laundering and counter-terrorism financing violations. The financial sanction is set to be paid in four instalments over a 19-month period.