M&A / Business

    PointsBet posts 16% first-half revenue decline as Australian betting weakens

    PointsBet posts 16% first-half revenue decline as Australian betting weakens

    PointsBet reported a 16% decline in first-half revenue to A$112.7 million ($78.5 million) for the six months ended September 30, driven by weaker sports betting performance in Australia. Normalised EBITDA shifted to a loss of A$6.9 million ($4.8 million), down from a A$2.9 million profit in the prior-year period. Despite the downturn in its domestic market, the operator continued to progress its expansion in Canada.

    Cashpoint Denmark rebrands as Merkur Bets and adopts EveryMatrix platform

    Cashpoint Denmark has officially rebranded as Merkur Bets, aligning with Merkur Group's broader international rebranding strategy across Europe. The transition encompasses approximately 200 retail betting locations across the country, where the brand maintains over 50 percent of the land-based sports betting market. Alongside the visual refresh, the business is also integrating the EveryMatrix platform.

    Caesars Ent. launches Empire Builder digital rewards programme

    Caesars Entertainment has launched Caesars Rewards Empire Builder, a progression-based loyalty feature available in eligible US jurisdictions. Integrated into Caesars Palace Online Casino and Caesars Sportsbook & Casino, the feature enables players to accumulate Tier Credits across both casino and sports betting verticals. Users can advance through a monthly progression system to unlock personalized rewards, bonuses, and incentives.

    Is Codere set to separate business divisions to increase sale hopes?

    Grupo Codere is reportedly exploring the separate divestment of its three core business units to improve the prospects of a company sale. Investors are considering individual transactions for its European retail, Latin American retail, and US-listed online gaming divisions following limited interest in an outright group purchase. The split approach aims to unlock market value by catering to specialized regional and digital buyers.

    Macau October GGR falls 10% to $2.68 billion for fifth straight monthly decline

    Macau October GGR falls 10% to $2.68 billion for fifth straight monthly decline

    Macau's gross gaming revenue fell 10% year-on-year in October to MOP$21.68 billion ($2.68 billion), marking the jurisdiction's fifth consecutive monthly decline. According to the Gaming Inspection and Coordination Bureau, the result represents the second-largest annual contraction of the year, trailing only June's 12.1% drop. Despite the yearly decrease, total revenue increased 20% month-on-month compared to September.

    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.

    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.

    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.