TLDR FATF identified scams, cyber-enabled fraud, and illegal gambling as the top money laundering threats facing Singapore in its latest evaluation report Singapore’s casino regulatory framework received positive marks, with strict oversight of Marina Bay Sands and Resorts World Sentosa Authorities uncovered a $2.3 billion money laundering case in 2023 involving luxury assets and cryptocurrency Over 11,000 money laundering investigations were conducted in five years, but only 682 led to prosecution Singapore received positive FATF ratings and moved into normal follow-up, an improvement from its 2016 enhanced follow-up status The Financial Action Task Force has released its latest mutual evaluation…
Author: Maisie Morrison
TLDR Five Democratic lawmakers sent a letter to 12 CEOs of sportsbooks and prediction markets over concerns about targeting young adults aged 18-24 Kalshi was called out for a TikTok ad where a user claimed to earn two years’ rent from trading on the platform An Ipsos poll found young men aged 18-24 are twice as likely as others to use sports betting, fantasy, or prediction market apps The lawmakers want answers to 12 questions by May 29 and have requested a briefing on the issue Previous bills like the SAFE Bet Act have not advanced to committee hearings in…
TLDR DraftKings posted Q1 revenue of $1.65 billion, up 17% year-over-year, and beat adjusted EBITDA forecasts with a record $168 million The company launched a market-making arm earlier this year that has already turned a profit, described as one of the fastest divisions to reach profitability Consumer volume on DraftKings Predictions topped $1 billion in April, with annualized volume exceeding $2.3 billion Kalshi raised $1 billion in Series F funding at a $22 billion valuation, surpassing the market caps of both Flutter and DraftKings DraftKings reaffirmed full-year 2026 revenue guidance of $6.5 billion to $6.9 billion and plans to invest…
TLDR The Michigan Senate passed an $88.1 billion budget but removed Governor Whitmer’s proposed gambling tax increases Whitmer wanted a per-bet fee on sportsbooks that would have charged $0.25 to $0.50 per wager, raising an estimated $39 million a year She also proposed raising online casino tax rates from 28% to 36% on revenue above $185 million, projected to bring in $136 million annually Republican House Speaker Matt Hall rejected tax increases outright, and even Democratic Senator Sarah Anthony called the plan potentially “tone-deaf” The Senate voted along party lines to strip the tax provisions, and Whitmer’s office has not…
TLDR South Korea’s Prime Minister Kim Min-seok urged stronger measures to address worsening youth gambling problems Kim made the remarks while swearing in new civilian members of the National Gambling Control Commission He called for a comprehensive safety net to support the stable growth of young people The commission was told to act as a “steadfast guardian” against gambling harm while also supporting economic goals Kim linked responsible gambling industry management to tourism, jobs, and regional economic development South Korea’s Prime Minister Kim Min-seok has called for a tougher response to youth gambling problems in the country. He made the…
TLDR Buenos Aires deputy Valentín Miranda is demanding updates on a youth gambling prevention plan launched in July 2024 The plan was designed to prevent and eliminate online gambling among minors across the province Miranda says there is almost no data on whether the program has actually been effective A new gambling commission approved by congress earlier this year has still not been established A 2024 survey found 34% of secondary school students in the province had gambled online at least once Almost two years after Buenos Aires province launched a plan to tackle youth gambling addiction, a provincial lawmaker…
TLDR Konami’s gaming and systems division revenue rose 1% to US$274.9 million for the year ending March 2026 Operating profit in the gaming segment fell 50.4% year-on-year, cutting margins from 17% to about 8% The company launched its first new cabinet in six years, the Solstice 49C, and expanded its Synkros casino management system Konami projects gaming division revenue of JPY46 billion and operating profit of JPY6.5 billion for fiscal 2027 Group-wide revenue jumped 17.1% to nearly JPY493.68 billion, with total profit up 33.9% Konami Group reported mixed results in its gaming and systems division for the fiscal year ended…
TLDR Apple updated App Store policies on May 8 to allow licensed fixed-odds betting apps in Brazil Only companies with a valid license from Brazil’s Secretariat of Prizes and Betting (SPA-MF) are eligible Developers must submit a new app version with license documentation through App Store Connect All gambling apps must carry an 18+ age rating The move follows Brazil’s broader regulatory framework legalizing sports betting and iGaming Apple has updated its App Store guidelines to permit the distribution of licensed fixed-odds betting applications in Brazil. The policy change took effect on Thursday, May 8. Under the new rules, only…
TLDR Paradise Co. posted April casino revenue of KRW87.9 billion ($60.4 million), up 80.6% from March and 30.7% year-on-year Table games revenue surged 89.9% month-on-month to KRW82.2 billion ($56.8 million), driving the bulk of gains Machine revenue rose 59.7% year-on-year to KRW5.73 billion ($4.0 million) Table drop grew only 4.5% year-on-year, suggesting a stronger hold rate rather than higher volume Year-to-date revenue through April reached KRW316.8 billion ($219 million), up 8.2% from 2025 Paradise Co. reported a sharp jump in casino revenue for April 2026, with total earnings nearly doubling from the prior month. The South Korean casino operator posted…
TLDR FanDuel CEO Amy Howe is leaving and will be replaced by President Christian Genetski as Flutter restructures its U.S. management team Flutter Q1 revenue hit $4.3 billion, up 17% year-over-year, but U.S. sportsbook revenue grew just 1% while iGaming surged 19% FanDuel’s average monthly players dropped 6% and sportsbook handle fell 9%, partly blamed on customer-friendly NFL results FanDuel Predicts expanded nationwide with prediction market contracts now live in 18 non-sportsbook states including California, Texas, and Florida Flutter lowered its full-year 2026 guidance, now expecting revenue of $18.3 billion and adjusted EBITDA of $2.87 billion Flutter Entertainment reported its…