Author: admin_buystromectolnow

Hacksaw Gaming (Hacksaw AB) shares fell sharply on October 12 after the Swedish gaming supplier reported slower revenue growth in its preliminary third-quarter 2026 update. The company cited softer market conditions and weaker game performance compared with recent reporting periods. Shares fell 27.24% to SEK59.40 in Stockholm following the announcement.

The projected revenue increase was also below the approximately 30% annual growth target mentioned in coverage of the company’s performance. Hacksaw Gaming said its long-term financial targets remain unchanged despite the weaker quarterly growth.

Revenue Growth Moderates as Market Conditions Weigh

For the three months ended September 30, Hacksaw AB expects revenue of €57.5 million to €58.5 million, compared with €52 million in the same period of 2025. Adjusted operating profit is projected to reach €48 million to €49 million, with an adjusted operating margin of approximately 83%, up from 81% a year earlier.

The company said fluctuations between reporting periods are characteristic of the content business. CEO Ana Vrabic Verdir acknowledged the slower expansion while emphasizing the supplier’s ongoing commercial activity.

“Growth in the third quarter of 2026 was more moderate than during our recent history. At the same time, we continue to expand our customer base through new signings and focus on extending our reach into additional markets with our existing customers. Our commercial momentum remains strong, and our development team is well positioned to continue delivering the quality content we are known for. We look forward to discussing the quarter in more detail in connection with our interim report that is expected to be published on 3 November 2026,” said the group CEO.

Hacksaw is scheduled to publish its interim report on November 3, providing further detail on its financial and operational performance.

New Partnerships and Product Development Remain Priorities

Hacksaw is expanding its portfolio through new and existing OpenRGS partnerships, creating additional opportunities to distribute its games. The company is also discussing potential partnerships for Hacksaw Ventures, its venture arm, with the aim of supporting businesses that could diversify its offering.

Product development remains another priority. Toward the end of the third quarter, Hacksaw launched a crash game as it explored additional gaming categories. The company intends to maintain its focus on game quality, broaden its portfolio’s appeal and give players more opportunities to engage with its content.

Its commercial expansion also includes a recently announced agreement with Sazka Hry, the Czech online casino brand operated by Allwyn Česko. The partnership extends Hacksaw’s distribution in the Czech Republic and strengthens its presence in Central Europe.

Sazka Hry has developed its casino offering around proprietary and exclusive games, drawing on Allwyn’s international experience and its own understanding of the local market. Lukáš Bouzek, head of casino product at Sazka Hry, described the operator’s position and strategy.

“Combining the heritage and trust of the Sazka brand with Allwyn’s international expertise, Sazka Hry has established itself as a leading force in the Czech online casino market,” said Lukáš Bouzek, head of casino product of Sazka Hry. “Through a strategy focused on exclusive content, premium player experiences, and long-term innovation, Sazka Hry has built the market’s strongest portfolio of proprietary and exclusive games. This unique offering, together with local market expertise and a commitment to responsible gaming, positions Sazka Hry as the benchmark for online casino entertainment in the Czech Republic.”

Marcus Cordes, operational CEO of Hacksaw, highlighted the operator’s established position in the Czech market. “Sazka Hry is one of the most established names in Czech gaming, which makes this one of our most significant placements in the region. We’re looking forward to building on this partnership in Central Europe.”

Investors will receive a fuller picture of the company’s performance when Hacksaw publishes its interim report on November 3. The results should provide more detail on the factors affecting the quarter and the company’s progress toward its longer-term objectives.

New Zealand has identified 11 entities eligible to apply for online casino licences following an auction that attracted 32 bidders and concluded after 10 rounds. The Department of Internal Affairs (DIA) announced the results on October 13, confirming that each successful application right carries a fee of NZ$15 million (US$8.4 million).

The government has made 15 licences available under the Online Casino Gambling Act 2026, with each covering one brand for an initial three-year period and a possible five-year renewal. The regulated market is expected to become fully operational in 2027.

Auction participation provides access to the formal licensing process, with applicants still required to demonstrate their suitability before receiving approval.

Super Group Leads Auction Allocations

Super Group, which owns Betway, secured three application rights through Baytree Interactive Limited, reaching the maximum allocation permitted for a single operator.

Entain obtained two rights through Playvia Gaming (NZ) Limited. TAB New Zealand, which operates under Entain’s 25-year strategic sports betting partnership, secured another. The arrangement gives Entain a potential three-brand presence in the regulated online casino market.

The company has already introduced Blackrush Casino and FoxySpins in New Zealand. It has also previously identified opportunities to promote casino products to its existing sports betting customers.

SkyCity Entertainment Group received two application rights through separate subsidiaries, SkyCity NZ Online NO1 Limited and SkyCity NZ Online NO2 Limited. The company intends to pursue both licences as it expands its online gambling activities.

CEO Jason Walbridge commented:

“We are excited to have been successful in the auction to apply for two licences and to be taking the next step towards entering the online casino gambling market in New Zealand.

“We know New Zealanders trust the SkyCity brand, and we will combine that trust with our deep knowledge of the New Zealand market to build a successful online business here.”

Stake New Zealand Limited secured one application right. The operator, which has expanded into Alberta, Argentina and Mexico this year, also confirmed its intention to proceed.

A Stake spokesperson stated:

“We’re looking forward to the next stages of the process and, ultimately, bringing the Stake experience to customers in New Zealand.”

Other successful participants include Skill On Net Limited and One Casino Limited, the latter associated with Malta-based LCKY, formerly Glitnor Group.

Rock Swift Group Limited, previously licensed by the Kahnawake Gaming Commission, received two rights. Christchurch Online NZ Limited and Rush Entertainment Limited each secured one. Despite its name, Christchurch Online NZ is registered in Malta.

The DIA has declined to identify the brands each entity intends to operate at this stage.

Licensing Requirements Extend Beyond Auction Fees

The successful entities must now submit detailed applications and pay the required licence fees. Regulators will assess their business plans, proposed advertising practices and compliance procedures, alongside measures for consumer protection and gambling harm prevention.

Officials will also consider information collected during the earlier expression-of-interest stage and may request additional documentation.

The NZ$15 million price has prompted concerns among industry participants. At approximately €7.5 million, it exceeds Brazil’s regulated market licensing fee of roughly €5.2 million.

New Zealand’s Online Casino Gambling Regulations 2026 establish further obligations concerning record-keeping, advertising and harm minimisation. They also specify the fees and levies applicable to licensed providers.

The DIA has published market research covering October 2023 to September 2025 to support prospective applicants. The reports examine online gambling activity using card transactions from one bank, adjusted to estimate the wider market.

The figures measure deposits without accounting for winnings and exclude statutory providers Lotto NZ and TAB.

Unsuccessful Operators Face December Exit

The new framework introduces an important deadline for businesses already serving New Zealand customers.

According to Inside Asian Gaming, citing the official list on the Department of Internal Affairs website, from December 1, 2026, providers that have not applied for a licence must cease offering online casino gambling services in the country.

Operators that submit applications can continue operating under a temporary exemption while authorities assess their suitability. They must observe the existing advertising prohibition throughout this period.

The transitional provisions also prevent new providers from entering the market before the licensing system takes effect.

New Zealand introduced the legislation to bring existing offshore gambling activity under domestic oversight and establish stronger safeguards for consumers. The staged implementation gives authorities time to assess applications and prepare the compliance systems required for the new regime.

The DIA has yet to announce an exact market-opening date in 2027. Its forthcoming licensing decisions will determine which of the successful auction participants ultimately receive permission to operate.

French Guiana’s first casino will open on November 5, with COGIT Group confirming a 10am launch for its Casino-Théâtre de Cayenne following several delays. The €35 million development will introduce a gambling venue to the territory, alongside facilities for dining and live entertainment.

Caysino, a subsidiary of the Martinique-based operator, will manage the property under a 20-year public service concession. Located at the junction of Route de Montabo and Chemin Sadecki, the establishment forms part of Cayenne’s plans to expand tourism and entertainment activities.

The launch was previously expected in September. With construction nearing completion, COGIT is now preparing its workforce for the opening.

According to G3 Newswire, Gilles Defert, CEO of COGIT Group, said: “Our teams are currently being integrated and trained to be ready to welcome our first visitors in the best possible conditions. This is a symbolic project for Cayenne and French Guiana.”

New Casino Combines Gaming and Live Entertainment

The Casino-Théâtre de Cayenne covers approximately 2,800 square metres, with earlier plans allocating around 655 square metres to the gaming floor.

Visitors will have access to 100 slot machines and 20 electronic gaming positions. Traditional table games will include two blackjack tables and one English roulette table.

The property will also feature a restaurant and lounge bar, while its performance hall will accommodate 400 seated guests or up to 700 standing attendees.

To celebrate the launch, COGIT has organised free entertainment from November 6 to 8, including musical performances and games.

The venue’s combination of casino activities and event facilities reflects the municipality’s plans for the Montabo-Chatenay area. During construction, city authorities estimated the investment at more than €25 million ($28 million), while the project’s latest reported cost stands at approximately €35 million.

Cayenne Authorities Highlight Tourism Potential

Mayor Sandra Trochimara described the development as ‘probably the most important tourism project of the last 20 years in French Guiana.’

She identified its location as an important factor in efforts to revitalise downtown Cayenne and surrounding neighbourhoods.

The project also represents a long-term investment for COGIT, which worked with the municipality to establish the venue.

COGIT Chairman Henri Ernault commented:

“This is an important step for our group, which has chosen to invest sustainably in this territory and build an establishment designed for its residents as well as its visitors.”

The new property expands the portfolio of France’s fifth-largest casino operator. COGIT already runs four casinos in the French West Indies, alongside gaming operations in Cherbourg, Lacanau and Saint-Gilles-Croix-de-Vie.

The group also plans to establish another casino in Lion d’Angers, in the Maine-et-Loire department.

Meanwhile, France’s wider land-based gambling sector is experiencing further consolidation. Merkur has agreed to acquire a 95% interest in Casigrangi, majority owner of Société Française de Casinos, pending approval. Banijay Gaming has separately agreed to purchase Joa, which operates 33 casinos nationwide.

For the Cayenne property, the immediate focus remains on completing staff preparations and opening to customers on schedule. The November 5 launch will mark the introduction of regulated casino gaming in French Guiana, with the following three days dedicated to free public entertainment.

Liquor & Gaming NSW (L&GNSW) has fined two venues for breaching mandatory gaming machine shutdown rules, following an enforcement operation across New South Wales. The Crown Hotel in Camden and East Cessnock Bowling Club received penalties, while another establishment received an official caution and a fourth faces formal disciplinary proceedings.

The action follows changes introduced in April 2026, when the NSW Government removed exemptions allowing more than 650 pubs and clubs to operate gaming machines during standard shutdown hours.

Current regulations require venues to switch off gaming machines between 4am and 10am daily. The government introduced the six-hour interruption as a gambling harm prevention measure, particularly aimed at reducing opportunities for extended overnight play.

Since April, L&GNSW has reviewed 51 venues across Sydney, the Hunter and the North Coast. Another 70 establishments remain under assessment.

Regulator Examines Compliance Following Rule Changes

Before the reforms, 672 venues held exemptions permitting shorter shutdown periods, generally lasting three hours. Many of these arrangements had remained in place for more than two decades.

The Independent Liquor & Gaming Authority has since approved a small number of establishments to retain reduced operating restrictions following individual assessments.

L&GNSW identifies potential violations through real-time data analysis and targeted inspections, supported by examinations of venue records.

Alongside enforcement measures, the regulator provided education and compliance assistance to 32 venues where officers identified minor or isolated issues. Some cases involved exceptional circumstances beyond operators’ control.

L&GNSW Executive Director Regulatory Operations Dimitri Argeres said the findings indicated widespread compliance among inspected establishments, although several breaches required intervention.

“The six-hour shutdown period is an important safeguard that supports harm minimisation by providing a guaranteed break in gaming machine operation each day,” Mr Argeres said in a press release.

“Our approach is intelligence-led and proportionate. Where issues are minor or isolated, we work with venues to improve compliance. However, significant or repeated breaches will attract stronger regulatory action.”

Argeres also urged operators to ensure staff understand the shutdown requirements and that internal systems prevent machines from operating during restricted hours.

Earlier Violations Attracted Significant Penalties

The latest enforcement operation follows several cases involving substantial penalties for gaming machine operating breaches.

In 2025, authorities fined the Concourse Hotel at Wynyard $110,000 after finding that patrons had access to its 29 gaming machines outside authorised hours.

The former Richards on the Park Hotel at Canley Vale received a $44,000 penalty during the same year for operating machines on 68 occasions when gambling should have been suspended.

Another case involved the Royal Inn Hotel in Newcastle, which received a $7,540 fine in 2024 after investigators identified 13 breaches.

These previous actions demonstrate the potential financial consequences for operators that fail to comply with gaming machine restrictions.

The regulator intends to maintain its intelligence-led inspection programme, focusing additional attention on establishments where operational information suggests possible violations.

NSW Considers Changes to Shutdown Requirements

The NSW Government is also reviewing whether existing shutdown arrangements adequately address gambling-related harm.

In August 2026, authorities announced plans to examine the mandatory shutdown period following evidence that higher-risk gamblers frequently use gaming machines during the early morning.

The review will consider research on gambling harm and the operational consequences of possible changes. Stakeholder consultation will inform any proposed amendments.

Until authorities introduce further measures, the 4am to 10am restriction remains the standard requirement, except where venues hold specific approval for alternative arrangements.

L&GNSW will continue its compliance assessments as the government evaluates the effectiveness of the current framework.

Preliminary findings from a University of Nevada, Las Vegas (UNLV) study suggest that 7% of surveyed Colorado gamblers experience serious gambling problems, raising concerns about consumer risks in the state’s regulated betting market.

Led by UNLV psychology professor Shane Kraus, the research involved 500 randomly selected Colorado residents, including gamblers and non-gamblers. Early results indicated that 4% participated in gambling, while the reported problem gambling rate was two percentage points higher among women. Researchers have yet to determine the reasons for that difference.

The findings come as Colorado continues to record substantial sports betting activity. During the 2025-2026 fiscal year, residents wagered $6.4 billion on sports, generating approximately $47 million in state tax revenue.

“When you look at the (total) sports betting market, the prevalence rate is kind of high,” Kraus said. “It’s concerning. It’s not a good thing.”

The project remains underway, with final findings expected after the Super Bowl in February.

Researchers Examine Gambling Participation and Risks

The survey identified lotteries as the most common gambling activity among participants, accounting for 41.4% of responses. Sports betting followed at 17.4%, while slots and video poker represented 16.2%.

Casino table games accounted for 11.6% of reported preferences, with bingo close behind at 11.4%.

Researchers also found that 13.9% of respondents reported participating in online gambling activities described as illegal in Colorado. Another 7.3% had purchased contracts through prediction markets.

Kraus emphasised that gambling problems affect a relatively small proportion of participants, although the consequences can be serious for those experiencing difficulties.

“Not everyone has a problem with gambling,” Kraus said, as reported by CDC Gaming. “The small percentage who do aren’t doing great and those are the ones we worry about.”

The Colorado findings form part of a wider research project that also surveyed approximately 1,400 gamblers and non-gamblers nationwide. Investigators are examining betting motivations and spending patterns to better understand factors associated with harmful behavior.

Betting Advertising Becomes a Research Priority

Sportsbook marketing represents another important component of the investigation, particularly the wording operators use to promote betting incentives.

Researchers are examining expressions such as “risk-free betting,” “free money” and “free play” to determine whether they influence consumers’ understanding of financial risks.

Kraus questioned the description of risk-free betting, calling it “no such thing.”

World Cup-related data provided additional information about advertising exposure. Among survey participants, 37.5% watched at least part of the final between Spain and Argentina, while 59.4% encountered sportsbook advertising during the final week of the tournament.

Another 35.1% reported seeing promotional betting offers, and 7.3% placed real-money wagers on the championship match.

Participants considered offers involving bet-50-get-10 incentives and first-bet cashback more likely to encourage excessive spending than advertisements promoting a 30% profit boost.

Existing research has also examined the relationship between gambling promotions and consumer behavior. A Massachusetts Gaming Commission report found that national television sportsbook advertising expenditure increased from $21.4 million in 2019 to $314.6 million in 2022.

Separately, a systematic review of 65 academic articles linked sports betting with elevated problem gambling risks and identified advertising as a potential influence on perceptions of gambling safety.

Findings Could Inform Colorado’s Prevention Measures

The UNLV researchers presented their early results at the Problem Gambling Coalition of Colorado’s annual conference. The project received funding through the Colorado Limited Gaming Control Commission’s Responsible Gaming Grant Program.

The team recommended greater cooperation between researchers and treatment providers, with participation from individuals who have experienced gambling harm.

Other proposals included identifying higher-risk groups and testing prevention measures before introducing them on a larger scale. Researchers also suggested making findings more accessible to regulators and community organisations.

Joe Maloney, president of the Sports Betting Alliance, defended Colorado’s regulated betting framework, referring to voters’ decision in 2019 to legalise sports wagering with commitments to consumer protection. He argued that regulation had helped move bettors away from illegal offshore platforms.

Investigators will continue analysing the collected information before publishing their final conclusions. The completed study is expected to provide a clearer picture of gambling-related harm and the potential influence of sportsbook advertising.

Peru’s online gambling industry could face a substantial increase in its tax obligations under a legislative proposal that would raise the Selective Consumption Tax (ISC) on remote betting from 1% to 5% of each wager. Filed in Congress on October 6, 2026, the initiative cites public health concerns and the potential for higher government revenue as the main reasons for the proposed change.

Legislative Proposal 00519-2026-2031-CD was introduced by Arequipa lawmaker Luis Aurelio Masco Cáceres and other members of the Partido Cívico Obras. The measure remains at the “Presented” stage in Congress and has not entered into force.

If approved, the bill would increase the tax rate fivefold while retaining the value of each wager as the taxable base. Its scope would remain limited to online gambling, leaving land-based betting and casino operations outside the proposed increase. The ISC would also continue to apply regardless of whether an operator is incorporated in Peru or another jurisdiction.

The proposal would operate alongside Peru‘s existing 12% tax on the monthly taxable base of remote gaming and sports betting operators, established under Law 31557. The two levies use different tax bases and serve as separate obligations for businesses in the regulated market, according to Zona de Azar.

Congress Considers Higher Levy on Remote Wagers

The proposed reform would amend section A of the New Appendix IV of the Consolidated Text of Peru’s IGV and ISC Law. The current 1% ISC on each online wager took effect on July 1, 2025, under Supreme Decree 008-2025-EF.

Peru introduced its regulated online gambling framework in February 2024, attracting international operators including SkillOnNet, Stake, Rush Street Interactive and Betsson. However, the implementation of the consumption tax has added pressure to a market that had initially developed without the levy.

Plans to introduce the consumption tax had been abandoned before the regulated market launched. Authorities reconsidered the measure in 2024, and its eventual implementation in July 2025 prompted concerns about the industry’s financial sustainability. One lawyer warned iGB that the tax’s impact would be “catastrophic” for the market’s viability.

The new proposal would increase the rate further, making the financial implications for licensed operators a central issue in the legislative debate. The bill acknowledges that companies could respond to the higher charge in different ways. They could absorb the additional expense, transfer some or all of it to customers through revised betting conditions, or divide the cost between operators and bettors.

Experiences elsewhere in Latin America offer examples of how businesses may respond to additional gambling taxes. In Colombia, some operators have used player bonuses to offset the effects of the country’s VAT on online gambling. Whether Peruvian operators would adopt comparable measures remains uncertain.

Public Health Concerns Feature in the Bill

The proposal presents the tax increase as one element of a wider response to the risks associated with online gambling. Its explanatory memorandum points to the expansion of digital betting and the need to protect vulnerable groups, particularly young people.

“The Ministry of Health reported that 14,409 cases of treatment for gambling addiction were recorded at health facilities nationwide in 2025, highlighting the need to strengthen prevention, early detection and specialised treatment efforts,” the bill stated.

The document argues that a higher tax could complement public health policies by increasing the fiscal cost associated with gambling activity. It also recognizes that taxation alone cannot address gambling-related harm.

“The measure can contribute to a comprehensive policy for preventing problem gambling by increasing the specific tax burden on the activity. The expected benefit is not to position the tax as a solution to gambling addiction, but rather to incorporate an additional fiscal instrument into a broader set of measures covering prevention, regulation, oversight and care.”

Revenue collection represents the proposal’s other principal objective. The bill describes the ISC as having a “revenue-generating purpose” while maintaining that the intention is to keep online betting within Peru’s authorized regulatory framework.

“Instead, it seeks to moderately raise the tax burden associated with the activity within a market that remains subject to authorisation and regulation,” the bill continued. “The measure is conceived as a complementary prevention tool rather than a sole response to problem gambling.”

The explanatory memorandum estimates that the existing 1% ISC produces approximately PEN324 million annually. Increasing the rate to 5% could lift yearly receipts to PEN1.62 billion, representing an additional PEN1.296 billion compared with the current estimate.

The document qualifies these projections as a “static, illustrative scenario”. The figures therefore represent an estimate based on the stated assumptions rather than a guaranteed outcome following a potential tax increase.

Regional Tax Comparisons and Regulatory Responsibilities

To support its case, the bill refers to other Latin American jurisdictions that impose additional taxes on online gambling. Argentina applies an indirect tax on online betting at rates ranging from 2.5% to 15%, while Colombia imposes a 16% VAT on gross gaming revenue (GGR) for online operators.

Based on these examples, the Peruvian proposal argues that a 5% levy on individual wagers would fall within the range of additional fiscal measures used elsewhere in the region. The comparison does not remove the distinction between the countries’ tax structures, since their respective levies can apply to different taxable bases.

The proposed changes would involve several public institutions if Congress approves the bill. The Ministry of Foreign Trade and Tourism (MINCETUR) oversees gambling regulation, while the National Superintendency of Customs and Tax Administration (SUNAT) handles tax collection. The Ministry of Economy and Finance would also need to participate in the relevant regulatory adjustments.

Enforcement against unauthorized gambling platforms remains another part of the regulatory picture. On July 21, 2026, MINCETUR blocked 36 unauthorized platforms in coordination with the Ministry of Transport and Communications, according to the information accompanying the legislative proposal.

The bill would therefore add a potential tax change to Peru’s existing framework for licensing, taxation and enforcement. Its next step depends on congressional consideration, and the proposed 5% rate will remain inactive unless the measure completes the legislative process.

Under the bill’s proposed implementation schedule, the law would take effect the day after publication in El Peruano, Peru’s official daily newspaper. The new ISC rate would then apply from the first day of the following calendar month.

The United States Commodity Futures Trading Commission (CFTC) has introduced two regulatory measures aimed at defining its authority over prediction markets and distinguishing event-based financial contracts from conventional gambling products. Announced Friday, the measures would formally classify event contracts linked to sports, politics, culture and weather as swaps while explicitly excluding sportsbook wagers and casino games from that category.

The actions arrive as federal courts disagree over whether prediction market operators can offer sports-related contracts without complying with state gambling laws. The dispute has reached the US Supreme Court, where New Jersey is seeking review of a ruling that favored Kalshi, a CFTC-registered prediction market operator.

One measure proposes expanding the regulatory definition of swaps to cover event contracts. The other, an interim final rule, codifies the commission’s position that casino-style gambling products fall outside the definition of a swap under the Commodity Exchange Act.

“Americans use event contracts to hedge risks, speculate, and provide the public with information about the outcome of future events,” CFTC Chairman Michael S. Selig said. “These products are commodity derivatives squarely within the CFTC’s regulatory remit under the Commodity Exchange Act and are within the agency’s exclusive jurisdiction.”

The interim final rule takes effect upon publication in the Federal Register, while the proposed definition remains subject to consultation. Both measures allow stakeholders 30 days from publication to submit written comments through Regulations.gov.

CFTC Draws a Regulatory Boundary Between Contracts and Bets

The proposed rule would expressly include event contracts within the definition of swaps, formalizing the agency’s position that these instruments belong under federal derivatives oversight. The contracts allow participants to take positions on the outcomes of future events, including sporting competitions and political developments.

The commission’s separate interim final rule addresses traditional gambling products. It states that wagers placed through state- or tribal-licensed sportsbooks and casinos do not qualify as swaps under the Commodity Exchange Act and therefore do not fall under the CFTC’s jurisdiction on that basis.

“Casino-style gambling products are not derivatives,” CFTC Chairman Michael Selig explained. “Just as the CFTC has done with respect to other products historically regulated by the states, the Commission today provides clarity regarding the limits of its regulatory remit by codifying the exclusion of casino-style gambling products from the ‘swap’ definition.”

The interim measure reinforces what the agency describes as its longstanding interpretation of the law. According to the CFTC, the rule does not alter existing legal rights because the commission has already treated conventional sportsbooks as outside its regulatory remit. Instead, the agency expects the measure to reduce what it calls “interpretive uncertainty.”

The commission has also challenged the reasoning used by federal appeals courts that ruled against Kalshi. The Sixth and Ninth Circuits concluded that sports event contracts and conventional sportsbook wagers share enough similarities to raise questions about whether both should receive the same legal treatment. The CFTC characterized the premise behind those decisions as “erroneous,” arguing that the courts read restrictions into the statutory definition of swaps that Congress did not establish.

To support its interpretation, the commission identified five distinctions between event contracts and sportsbook bets. Event contracts trade through central order books at market-determined prices, whereas sportsbooks establish their own odds. Event contracts also pass through clearinghouses, and Congress addressed gaming-related event contracts in a specific provision of the Commodity Exchange Act. The agency further noted that exchanges have listed these instruments under federal oversight since the 1990s and that the derivatives industry commonly refers to them as swaps.

The CFTC acknowledged that “a person can achieve similar economic exposure” through either type of product. However, it maintains that similar financial outcomes do not make the instruments legally identical, drawing a comparison with insurance and credit default swaps.

The agency’s interim rule also reflects an approach suggested by the Third Circuit in its April decision favoring Kalshi in the dispute with New Jersey. That court discussed how regulators could address unusual products, including bingo games or ping-pong matches, if questions arose over their classification. The CFTC said its rule “implements the Third Circuit’s suggested approach.”

Conflicting Appeals Court Decisions Bring Supreme Court Into the Dispute

The regulatory announcements coincide with a growing legal contest over whether federal derivatives law preempts state gambling regulations when prediction market platforms offer sports-related contracts.

New Jersey filed its petition in Flaherty v. KalshiEX on September 2, asking the Supreme Court to review the Third Circuit’s April 6 decision. That ruling restricted the state’s ability to apply its sports wagering laws to Kalshi’s event contracts. The Ninth Circuit reached a different conclusion on August 28, followed by the Sixth Circuit on September 25, creating conflicting interpretations among federal appeals courts.

Kalshi and other prediction market operators, including Polymarket, maintain that their products qualify as federally regulated financial instruments. State regulators argue that contracts tied to sporting outcomes function as wagers and should comply with the same licensing and consumer protection requirements that govern traditional sports betting.

The Supreme Court has yet to agree to hear New Jersey’s case. Kalshi has until November 9 to respond to the petition after receiving an extension.

Support for New Jersey’s request has expanded beyond state officials. Attorneys general representing 39 states and the District of Columbia have backed Supreme Court review. Gaming regulator associations and tribal gaming interests have also supported efforts to resolve the jurisdictional dispute.

The National Football League submitted a separate brief supporting New Jersey. The league argues that sports event contracts should not receive treatment as swaps under federal law and has raised concerns about the implications for sports integrity and state oversight.

The states maintain that federal commodities legislation should not automatically displace their authority to regulate sports betting. Their responsibilities include licensing operators, protecting consumers and enforcing responsible gambling requirements. A Supreme Court decision could establish clearer boundaries between those powers and the CFTC’s oversight of federally registered exchanges.

Rulemaking Advances as Prediction Markets Seek Expansion

Both measures were logged for review by the White House Office of Information and Regulatory Affairs on September 28, according to the source materials. The CFTC’s proposed rule would formally define swaps to include event contracts associated with sports, politics, cultural developments and weather-related outcomes.

The interim final rule follows a different timetable. It becomes effective immediately upon publication in the Federal Register, with comments due within 30 days of publication. The proposed rule also carries a 30-day consultation period following its publication.

The measures could affect how prediction market businesses structure their products and seek authorization to operate across the United States. The sector has attracted companies from outside the traditional derivatives industry as operators pursue federal approval to list event contracts.

Blockchain.com recently applied to the CFTC for licenses covering event contracts and cryptocurrency derivatives. Its application adds to 11 other companies that have filed for designated contract market licenses this year, according to the provided reporting.

Companies already associated with sports betting have also entered the prediction market sector. DraftKings and FanDuel have launched prediction market products, placing businesses with established sportsbook operations within the wider debate over how federal and state rules should apply to event-based contracts.

Macau recorded 1,951 gaming-related crimes in the first nine months of 2026, up 12.3% from 1,737 cases a year earlier, according to the Office of the Secretary for Security.

Fraud remained the largest category, with 558 cases, representing 28.6% of all gaming-related offences. That figure increased 21.3% year-on-year and accounted for a substantial share of the overall rise.

Illegal money exchange for gambling purposes ranked second, with 404 cases, up 11.9%. Macau criminalized this activity in October 2024.

Fraud and Money Exchange Drive the Increase

The latest figures show that the rise in gaming-related crime was concentrated mainly in fraud and unauthorized currency exchange.

Other categories declined. As reported by GGRAsia, illegal lending for gambling fell 12.6% to 132 cases, while unlawful detention linked to gaming dropped 57.1% to nine.

Gaming-related assault moved higher, increasing 26.6% to 81 cases. Breaches of casino-entry bans fell 42.2% to 63.

Authorities have previously classified illegal lending and related detention offences as serious threats to public safety, making the declines in those categories notable within the broader gaming-crime picture.

Police Continue Casino and Online Enforcement

The report also referred to a July investigation involving casino security personnel.

Authorities arrested 15 alleged key members of a suspected criminal group, including its suspected leader, in connection with offences including organized crime, extortion and coercion.

The operation allegedly involved security personnel identifying suspected wrongdoers inside a Cotai casino and demanding payment in exchange for not reporting them to police.

Five defendants, including the alleged ringleader, were placed in pre-trial detention, according to a September 5 update from the Public Prosecution Office.

Macau’s Judiciary Police also worked with the gaming industry to take down more than 77,000 illegal gambling websites during the first nine months of the year.

Authorities said they are continuing to strengthen cooperation with government departments and industry while increasing the use of technology and cross-jurisdiction intelligence sharing.

Overall Crime Falls Slightly

The increase in gaming-related offences contrasted with Macau’s broader crime trend.

Police recorded nearly 10,000 criminal cases between January and September, down 0.9% year-on-year.

General fraud decreased 8.5%, while computer-related crime fell 29.8%. Authorities also reported lower levels of telecommunications and online fraud, theft and drug-related offences.

Officials described Macau’s overall public-security situation as stable but said gaming-related illegal activity remains an area requiring continued attention.

Wynn Resorts’ $5.7 billion Wynn Al Marjan Island project could generate more gaming revenue than the company currently expects, according to Wolfe Research.

The firm’s analysis compares the UAE market with Singapore, where limited casino licensing and strong international tourism have supported major integrated resorts. Wolfe Research analyst Peter Supino believes similar conditions could help Wynn Al Marjan Island outperform Wynn’s own projections after opening in Ras Al Khaimah.

Wynn has previously forecast annual gaming revenue of up to $1.66 billion from the property.

“In building the first integrated resort-casino in the Middle East, Wynn brings its global luxury brand positioning to a UAE market brimming with demand for super-premium consumption, tourism and untold vices,” he said, as reported by Inside Asian Gaming. “According to Knight Frank, 43 per cent of the UAE’s upcoming hotel room supply through 2030 is classified as luxury. One-third of the world’s population lives within a 4-hour flight of the UAE.”

Supino added:

“Benchmarking against Singapore, another wealthy limited license casino market popular with tourists, suggests Wynn’s Al Marjan could beat the UAE GGR targets it laid out in December 2025.”

UAE Market Draws Comparison With Singapore

Wolfe Research sees Singapore’s casino sector as a useful benchmark because of its limited supply and large tourism base.

Marina Bay Sands and Resorts World Sentosa have developed into two major integrated resorts under Singapore’s restricted licensing system. The research firm believes the UAE could develop along a similar path, with Wynn Al Marjan Island gaining an early position as the region’s first licensed integrated resort casino.

Previous estimates have placed potential UAE gaming revenue at between $3 billion and $5 billion annually. Wolfe Research believes the market could eventually support four or five casino properties.

Wynn Al Marjan Island is scheduled to open in September 2027. Wynn has projected adjusted property EBITDA after management fees of between $390 million and $570 million.

The UAE’s tourism profile also supports Wolfe’s outlook. Knight Frank expects luxury rooms to represent 43% of the country’s planned hotel additions through 2030.

Its location provides access to a broad international travel market, with roughly one-third of the global population living within a four-hour flight.

UAE Resort Factors Into Wynn Valuation

Wolfe Research’s expectations for Al Marjan Island contribute materially to its valuation of Wynn Resorts.

The firm assigns approximately $48 per share to Wynn’s 40% interest in the development. That figure forms part of a $128 overall price target based on 8.5 times projected 2028 adjusted EBITDA.

Wynn shares were down around 37% year-to-date in 2026 when the analysis was published. Wolfe Research sees potential upside of about 60% by the end of 2027.

The assessment assumes the UAE property can become a significant contributor to group earnings following its opening.

That would give Wynn an additional source of revenue outside its existing casino markets and increase the importance of Ras Al Khaimah within the company’s portfolio.

Risks Remain Ahead of 2027 Opening

Wolfe Research also identified factors that could affect the outlook.

Supino pointed to softer conditions at Wynn’s Macau properties as a current pressure on the business. Geopolitical tensions in the Middle East represent another uncertainty for the UAE development.

Construction on Wynn Al Marjan Island briefly paused amid regional conflict involving Iran before work resumed.

The project also remains exposed to execution risk as Wynn works toward its September 2027 opening.

Despite those uncertainties, Wolfe Research believes the potential contribution from Al Marjan Island is not yet fully reflected in Wynn’s market valuation.

If the resort reaches or surpasses the company’s current gaming revenue and EBITDA projections, the UAE property could provide a substantial new earnings stream for Wynn and strengthen its position in a market with limited casino supply.

New York gaming regulators have advanced proposed rules that would restrict how mobile sportsbooks use artificial intelligence and other automated systems to personalize gambling promotions and wagering recommendations.

The New York State Gaming Commission unanimously moved forward with the revised proposal, which covers AI, machine learning, algorithmic profiling and automated decision-making tools. The measure will receive further public comment before returning to regulators for possible final action.

A separate proposal would require sportsbook operators to identify customers who may be showing signs of problem gambling and assign someone to contact those patrons about gambling-related risks.

Commission Chairman Brian O’Dwyer also called on operators to address a gap in responsible gambling protections when a customer restricted by one sportsbook can continue betting through another.

“The mobile sports betting industry have long maintained that they considered integration of responsible gaming practices a significant element of their business,” O’Dwyer said after the commission vote on Friday.

He said the industry should demonstrate that commitment “by working together to share the data necessary to make sure that this doesn’t happen.”

AI Proposal Targets Personalized Gambling Offers

The revised rules would restrict sportsbooks, affiliates and vendors from using automated systems to analyze customer data and tailor promotions, bonuses, odds, betting limits, messages or product recommendations.

Operators would also face limits on suggesting specific wagers, types of bets or amounts to individual users.

The proposal would prohibit using automated tools to encourage higher spending, engagement or revenue through personalized promotions.

Customers who provide consent could fall outside some of those restrictions. Pari-mutuel horse racing applications that suggest wagers could also qualify for an exemption where users first opt in.

New York regulators based the measure in part on a similar framework in New Jersey.

The revised proposal also identifies recent bankruptcies, judgments and related debt indicators as possible signs of gambling risk.

Commission staff have been instructed to seek further expert input on AI and gaming before the rules return for additional discussion. No final vote date has been announced.

Regulators Push for Shared Risk Data

O’Dwyer warned that responsible gambling measures may be weakened when operators do not share information about customers they have restricted.

“The industry is on notice by me and this commission that they need to solve this problem,” O’Dwyer said. “It’s a problem that this commission will require to be addressed and if the industry does not address it than we will address it, and they may not like it or the solution we come up with.”

The Commission wants sportsbooks to work together on a system that could prevent at-risk customers from simply moving between operators after restrictions are imposed.

New York currently has nine licensed mobile sportsbook operators: Bally Bet, BetMGM, Caesars Sportsbook, DraftKings, Fanatics, FanDuel, Resorts World Bet, Rush Street Interactive and theScore Bet.

Mobile wagering gross gaming revenue is taxed at 51%.

Industry Group Responds to Proposed Rules

The AI and responsible gambling measures were included in Governor Kathy Hochul’s State of the State 2026 programme, which also addressed underage gambling and marketing to vulnerable customers.

Joe Maloney, president of the Sports Betting Alliance, said operators would continue working with regulators.

“Since 2022, New Yorkers aged 21-plus have been able to place legal wagers in a trusted, regulated market with licensed operators held to account by regulators that ensure commitments to consumer protection, responsibility, and integrity. … We will continue our efforts to work with the Gaming Commission to ensure that any additional proposed regulations strengthen the regulated market in New York State,” said Maloney, as Public Gaming (PGRI) reports.

Maloney also said regulated sportsbooks now generate more than $1 billion annually in tax revenue.

The proposals remain under review, with further public comment and Commission discussion required before any final rules are adopted.