Author: Andrew Fletcher

Morgan Stanley has reduced its price target for DraftKings from $39 to $36, citing the growing financial burden of building out prediction market operations. The bank’s gaming team, led by Stephen Grambling, forecast second quarter EBITDA of around $150m for DraftKings, falling well short of the broader sell-side consensus of roughly $175m. Morgan Stanley also expects DraftKings to narrow its full-year EBITDA guidance to between $700m and $800m, tightening the range from the previous $700m to $900m. The note, published on 22 July, covered eight gaming stocks and painted a mixed picture across the sector, with US regional casinos performing…

The UK Gambling Commission has published full details of a £4.75m licence review settlement reached with live dealer giant Evolution. Evolution had revealed last week that it reached an agreement with the regulator following an investigation into its business practices. The Commission found that Evolution games appeared on six websites available to UK players, none of which held the relevant gambling licence. Those six websites were operated by two separate operators, though the regulator chose not to publicly name either the sites or the businesses behind them. A key concern raised during the investigation centred on Evolution’s risk assessment procedures…

Funds generated through UK Gambling Commission regulatory settlements will now be redirected into the government’s wider consolidated fund, taking immediate effect after a closed consultation. The change has sparked serious concerns across the gambling harms sector that money generated from regulatory settlements will effectively leave the industry entirely. While financial penalties have always flowed directly into the consolidated fund, payments in lieu of penalties were historically channelled back to gambling harms research, treatment and prevention projects. GambleAware frequently distributed these funds, and alongside voluntary industry donations, this arrangement formed the foundational funding framework for gambling harms support services. The statutory…

Canada captain Stephen Eustáquio has emerged as the most popular player among Canadian fans at the 2026 World Cup, according to new research from Tonybet. The social media study found that the Ontario-born midfielder drew a 54.4% positive response from all social media users across Canada. Eustáquio wore the captain’s armband during the tournament in the absence of Alphonso Davies, delivering a string of impressive performances throughout the competition. The study analysed social media posts across X, Facebook, Instagram, Reddit, and Bluesky for all users in Canada from June 11th to July 16th, using media intelligence platform Meltwater. CANMNT coach…

Gambling.com Group has rebranded its corporate name to Grandstand, marking a clear departure from its origins as a gambling affiliate business. The company confirmed it will retain the Gambling.com website name, which will continue operating as a consumer comparison and review portal for end users. Grandstand will function exclusively as the corporate identity covering the group’s wider and growing collection of businesses across multiple sectors. The company’s Nasdaq ticker will change from GAMB to GRSD when markets open on 23 July, with existing shareholders required to take no action as the CUSIP number remains unchanged. CEO Kevin McCrystle said the…

Bragg Gaming Group has appointed Matt Davey as non-executive chairman of its board, with the move taking effect alongside the completion of its Drayton International acquisition. Davey is the founder of Tekkorp Capital and currently holds approximately 10.09% of Bragg’s shares through that vehicle, making him a significant investor in the business. He succeeds Holly Gagnon, who has stepped down as chair but will remain on the board as a director following the leadership transition. The boardroom reshuffle also follows Matevž Mazij’s resignation from the board after shareholders opposed his re-election last month amid reported concerns over the company’s share…

Simon Cox has been named as the new chair of the British Horseracing Authority, while David Williams takes over leadership of the Horseracing Bettors Forum. The two appointments bring contrasting professional backgrounds to the heart of a sport navigating a deeply unsettled period in its history. Cox will begin a three-year term at the BHA on 1 October, ending the organisation’s search for a permanent chair following considerable instability at the top. Lord Allen resigned from the chair position in March after just six months in the post, with his departure linked to a failure among racing’s constituent bodies to…

Yggdrasil, the internationally recognised iGaming studio behind a premium portfolio of casino games, has officially entered the United States market for the first time. The partnership with Caesars Entertainment sees Yggdrasil titles go live across three platforms: Caesars Palace Online Casino, Caesars Sportsbook and Casino, and Horseshoe Online Casino. Both New Jersey and Michigan players now have access to Yggdrasil content, marking a significant geographical expansion for the Malta-based developer. The technical integration was facilitated through Aristocrat Interactive, enabling the smooth rollout of Yggdrasil games onto Caesars’ established digital infrastructure. Valley of the Gods, one of Yggdrasil’s most iconic and…

Spain entered the 2026 FIFA World Cup semifinals as the least-backed team on GR8_TECH’s sportsbook, accounting for just 11.61% of semifinal betting volume. England attracted 17.24% of that volume, Argentina drew 33.79%, and France led all semifinal betting with 37.36% of the action. Despite being the public’s least-favoured side among the final four, Spain went on to win the 2026 FIFA World Cup with flying colors. Weeks before the tournament concluded, GR8_TECH’s TEAM OF CHAMPIONS activation had invited industry professionals to pick the eventual champion from all 48 competing nations. Those professionals collectively identified the exact four teams that would…

FIRST.bet, a Tier-1 sportsbook technology provider, has announced a significant integration with Pragmatic Solutions’ iGaming Player Account Management platform for regulated operators. The collaboration makes FIRST.bet available across the Pragmatic Solutions platform ecosystem, giving operators direct access to its full sportsbook engine, trading stack, risk management, and managed services. Pragmatic Solutions’ PAM platform is built to support end-to-end player journeys, multiple brands, and flexible operations through a stable and scalable central infrastructure layer. Its open API model allows operators to integrate sportsbook, casino, payments, CRM, compliance, reporting, and third-party services within a single platform environment. Operators retain full control over…