Author: Maisie Morrison

TLDR The Philippine Bureau of Internal Revenue confirmed that casino and gambling jackpot prizes are subject to at least 20% final withholding tax for resident taxpayers Nonresident aliens not engaged in trade or business in the Philippines face a higher 25% tax rate on winnings The tax is calculated on gross winnings with no deductions allowed for service charges, fees, or commissions Gaming operators are designated as withholding agents and face penalties including surcharges and criminal action for noncompliance The guidance applies to both licensed and unlicensed operators and covers cash prizes, progressive jackpots, and table game winnings The Philippine…

TLDR A Santiago appeals court ordered Chile’s telecom regulator Subtel to explain what technical methods can effectively block illegal online gambling websites The case started in 2024 when Lotería de Concepción accused six major internet providers of failing to block unlicensed gambling platforms Subtel admitted last month it has been unable to enforce a Supreme Court order to block twelve betting sites because operators simply switch domain names Authorities are now considering Deep Packet Inspection technology and keyword blocking as potential tools to improve enforcement The Subtel undersecretary told lawmakers her agency was not directly responsible for enforcing the court’s…

TLDR DeGaming has officially launched a Web3 iGaming platform built on blockchain infrastructure to increase transparency in online gambling The platform features proprietary Glass Vault technology providing real-time proof of funds and verifiable transaction visibility A “Bankroll as a Service” model routes all transactions through an on-chain engine, giving players real-time views of platform funds Operators can deploy a full casino or sportsbook within two weeks using the platform’s integrated tools Industry veteran Ulle Skottling has been appointed CEO, bringing experience from RAW iGaming, Videoslots, and NetEnt DeGaming Enters the Market With Blockchain-Based Gambling Infrastructure DeGaming has officially launched its…

TLDR Brazil’s Bets Law, only 17 months old, faces multiple congressional bills aiming to rewrite or dismantle the online gambling framework. President Lula wants a new bill to block indebted citizens and welfare recipients from betting. Two new bills filed on May 19 propose tighter controls on marketing, licensing, and consumer safeguards, with cross-party support. More aggressive proposals seek outright bans on betting operations, advertising, cashback, and VIP schemes. The push is tied to October 2026 elections, with political blocs competing to reshape or bury the current gambling regime. Brazil’s online gambling law is facing a wave of political opposition…

TLDR Hedge funds have made at least $2.3 billion in paper gains betting against gambling stocks in 2026, with Flutter Entertainment accounting for roughly $2 billion of that total. Flutter has lost more than half its market value this year, while DraftKings and Entain are each down around 30%. Short sellers Muddy Waters and Callisto triggered a 20%-plus single-day crash in Sportradar shares after accusing the company of ties to illegal gambling operators. Tax increases in European markets and the rise of US prediction markets are squeezing margins and creating uncertainty across the sector. Some analysts still see recovery potential,…

TLDR Kazakhstan is building casino zones near its borders in four regions, designed exclusively for foreign tourists Local citizens will be legally banned from entering the new gambling territories The country is copying Russia’s model of isolated gambling zones, inspired by Sochi’s success in generating state revenue A nationwide ban on gambling advertising will accompany the new casino developments The government is forcing telecom providers to block payments to unauthorized overseas betting sites Kazakhstan is preparing to reverse nearly two decades of strict gambling policy with plans to build dedicated casino zones near its borders. The zones are designed to…

TLDR Chumba Casino generated A$5.2 billion ($3.7 billion) in revenue for the financial year ending June 2025, up 25% from the prior year Parent company VGW posted A$7.3 billion ($5.2 billion) in total revenue, a 19% year-over-year increase, with profit rising 33.5% to A$656 million Founder Laurence Escalante took VGW private at a reported A$3.2 billion valuation after shareholders approved his buyout in August 2025 VGW now faces bans or restrictions in up to 16 U.S. states, up from just 4, and has exited Canada Escalante stepped back as CEO earlier this year after being arrested and charged with family…

TLDR Kenneth Dart increased his Flutter Entertainment stake to 27.6%, making him the largest private shareholder with a holding worth about £3.55bn Canadian Imperial Bank of Commerce acquired a 5.3% stake in Flutter, marking its first position in the company Flutter shares have dropped more than 55% this year to $96.36, yet multiple investors have been adding to their positions BlackRock lifted its stake above 5%, and Parvus Asset Management doubled its holding to 10%, while Capital Group trimmed its position from 14.9% to 9.9% Flutter is currently running a $250 million buyback programme as part of a wider $5…

TLDR Gibraltar’s Minister for Justice Nigel Feetham is actively seeking to license prediction markets, with one already issued to Predictstreet in April Predictstreet became the official prediction market of the FIFA World Cup shortly after receiving its Gibraltar license A second prediction market license is expected within weeks, with more to follow Gibraltar already handles 80% of bets placed in the UK and hosts 54 gambling operators The country’s new Gambling Act of 2025 requires all existing licensees to re-apply by October under stricter rules Gibraltar is making a direct play to become the global home of prediction markets, with…

TLDR VGW revenue rose 19% to $5.2 billion in FY2025, with profit up 33.5% to A$656 million Chumba Casino drove most of the growth, generating $3.7 billion in revenue alone Founder Laurence Escalante took VGW private in a $2.3 billion buyout deal some shareholders called undervalued Escalante was arrested on assault and drug charges and stepped down, with Mats Johnson named acting CEO VGW faces growing U.S. regulatory pressure, product pullbacks in several states, and new lawsuits including one from Baltimore officials VGW Posts Record Revenue Ahead of Privatization Virtual Gaming Worlds reported revenue of A$7.3 billion ($5.2 billion) for…