Yggdrasil, a company powered by agile technology that delivers exceptional gaming experiences to operators and players worldwide, has announced a new partnership with one of the UK’s most prominent operators, the Rank Group, taking its extensive slot content to some of the market’s biggest brands.
With names including Grosvenor Casinos and Mecca Bingo in its stable, the deal with Rank sees Yggdrasil significantly expand the reach of its diverse game library.
UK customers of Rank’s brands can now enjoy recent core releases such as Max Elements GigaBlox and Trickstar Spins, alongside legacy titles, including Valley of the Dead, Golden Fish Tank and the Vikings series.
The offering also includes content from its YGG Masters studio partners, such as King Power and Shark Bait.
The varied catalogue of core and partner titles is further enhanced by Yggdrasil’s signature Game Engagement Mechanics (GEMs) like MultiMax and DoubleMax, which can now be enjoyed by even more players in Europe’s largest iGaming market.
The Rank Group partnership follows a recent surge in UK growth for Yggdrasil, with several deals signed with leading operator brands as the provider maintains its strong start to 2025.
Jose Simon, Chief Commercial Officer at Yggdrasil, said: “In any market, large or small, success is often influenced by the partners you choose to collaborate with. The Rank Group offers us an incredible opportunity to grow our market share in a competitive jurisdiction with a leading operator, and we couldn’t be more pleased with this partnership.”
Nolan Frendo, Casino Games Manager at Rank, added: “Yggdrasil needs no introduction as a creator and distributor of truly great content, and we pride ourselves on being able to attract the best games from the biggest names in the industry for our players. Yggdrasil fits that bill, and this deal sees us bring a huge amount of established and proven content to our online casinos.”
Live odds updates will no longer be featured in broadcasts of the NRL (National Rugby League) and AFL (Australian Football League), as Australia’s largest bookmaker, Sportsbet, responds to growing public frustration over sports betting promotions.
According to The Sydney Morning Herald, for the first time in years, Sportsbet will refrain from airing live betting odds during match breaks, as well as before and after games. This decision marks a significant shift in the company’s advertising strategy, which had previously included segments presented by former sports stars, including AFL’s Nathan Brown and NRL’s Joel Caine.
These segments often promoted multi bets, which have much lower odds of winning. The move follows a 40 percent reduction in overall wagering advertising over the past year, indicating the sector’s recognition of a deteriorating social license amid increasing calls to limit betting ads that have saturated the market.
A Sportsbet spokesperson stated that “Sportsbet can confirm that after listening to stakeholder and community sentiment on gambling advertising, we have taken the decision to remove integrations and ‘odds style’ ads in live sporting broadcasts.”
The decision comes amid ongoing discussions regarding stricter regulations on gambling advertising. Late Labor MP Peta Murphy previously argued that a partial ban would be ineffective, advocating for a complete prohibition to curb promotions that contribute to gambling addiction, which fuels the over AU$50 billion ($31.6 billion) wagered on sports annually.
Prime Minister Anthony Albanese has faced criticism from crossbenchers for delaying a plan to regulate sports betting more stringently and limit the volume of advertisements.
Communications Minister Michelle Rowland had proposed capping the number of ads to two per hour on radio and TV, banning ads during live sports and match breaks, and implementing an outright ban on social media advertising. However, opposition from media companies and sports executives led to the decision to postpone these reforms until after the election.
While Sportsbet will continue to air ads during breaks in play and before and after matches, the removal of live odds has been welcomed by industry representatives.
Kai Cantwell, head of Responsible Wagering Australia, described the decision as a positive step towards reducing advertising exposure for children and vulnerable populations.
“This move shows the industry is serious about addressing community concerns, particularly for parents who want to shield their children from seeing live betting odds,” Cantwell stated.
He also emphasized that this targeted, self-regulatory approach demonstrates the industry’s commitment to addressing these issues without relying on government intervention.
Piling class action lawsuits
A class action lawsuit was filed this year against Sportsbet, alleging the company engaged in illegal live betting practices that cost bettors millions of dollars. The case, lodged in Victoria’s Supreme Court by law firm Maurice Blackburn, centers on Sportsbet’s “Fast Code” service, which is claimed to have circumvented Australian gambling laws.
Under Australian law, live betting on sporting events is prohibited once the event has commenced, except when wagers are placed entirely via telephone. Sportsbet, owned by Flutter Entertainment, was previously found to have violated this law.
The law firm contends that Sportsbet’s actions flouted the law and contributed to significant financial losses for bettors, specifically covering wagers placed between December 24th, 2018, and December 24th, 2024.
The lawsuit seeks refunds for Sportsbet users who placed live in-game bets using the service over the past six years, excluding bets placed on racing events.
The legal action highlights ongoing concerns over the gambling industry’s compliance with regulations designed to prevent harm. If successful, the class action could compel Sportsbet to issue refunds for millions of dollars in bets placed using the disputed service, raising questions about the effectiveness of existing regulations and the responsibility of gambling operators.
The company has faced several lawsuits in recent years, including a civil suit dropped last October by accused fraudster Benjamin Carter, who alleged Sportsbet encouraged his excessive gambling through incentives.
In another legal dispute, Sportsbet and its insurer, Allied World, initiated proceedings against accounting giant Deloitte last August, accusing the firm of negligence during audits for William Hill Australia.
The lawsuit claims Deloitte failed to identify nearly AU$5 million ($3.1 million) in underpayments to Racing Victoria, alleging that misleading advice affected Sportsbet’s acquisition of William Hill.
Australian hotel and casino operator Iris Hotel Group (Iris) has made a confidential, non-binding proposal to acquire the Reef Hotel Casino.
The company addressed mounting speculation regarding a potential agreement with Iris in a recent dispatch, revealing it received a confidential, non-binding proposal to acquire 100 percent of the units in RCT (Reef Casino Trust).
The proposal also includes the acquisition of RCSL (Reef Corporate Services Limited) itself and Casinos Austria International (Cairns) Pty Ltd, the operator of the Reef Hotel Casino, which is owned by RCT.
‘To explore this proposal, RCSL has granted Iris a four-week period of exclusive due diligence. Discussions remain confidential and preliminary, with no certainty that they will lead to a completed transaction’, the company noted.
‘RCT has committed to keeping the market informed of developments in line with its continuous disclosure obligations’, the company highlighted.
Based in Sydney and part of Iris Capital, the Iris Hotel Group operates 13 hotels and two casinos, namely Casino Canberra – the first legal casino to open in Australia and formerly operated by Aquis Entertainment – and the Lasseters Hotel Casino in Alice Springs.
In light of the speculation regarding a potential ownership change, RCSL requested an immediate halt to the trading of its securities on Tuesday.
The Reef Casino Trust operates the Reef Hotel Casino in Cairns, Australia, and recently reported stable performance in its 2024 financial results.
A coalition of concerned youth activists delivered a petition to Thailand’s Prime Minister’s Office, urging the government to reconsider its ideas to legalize online gambling.
The group, representing a network opposed to gambling, voiced alarm over the potential surge in youth gambling addiction, citing current statistics that paint a worrying picture.
According to The Bagkok Post, Sompat Ninlaphan, deputy permanent secretary of the Prime Minister’s Office, received the petition on behalf of the government.
Wasinee Sonsab, the network coordinator, spearheaded the effort, expressing deep concern over the proposed amendments to the Gambling Act 1935, which would pave the way for legalized online gambling.
“Currently, Thai youths can access gambling in large numbers,” Ms. Wasinee stated, referencing data from the Center for Gambling Studies. According to the center’s findings, 32.3 percent of individuals aged 15-25, or approximately 2.9 million people, engaged in online gambling in 2023.
Alarmingly, the network claims that one in four of those young gamblers, roughly 739,000 individuals, are at risk of developing a gambling addiction.
“This is a statistic that has not been protected by the government at all,” Ms. Wasinee asserted. “The network would like to express its disagreement with the policy as the government’s attempt to generate more income through online gambling is a greedy and shameful idea. This obviously demonstrates the desire to solely pursue short-term profits, with detrimental social effects that will follow in the long run.”
The youth network also criticized the government’s claim that revenue generated from legalized gambling would fund scholarships for underprivileged students. They argued that this approach essentially uses young people’s futures as a bargaining chip, without addressing the underlying risks.
Bodinchai Boonpok, leader of the Youth Network for Risk Reduction of Ramkhamhaeng University, echoed these concerns, highlighting the difficulty individuals face when trying to break free from online gambling addiction.
He noted that many gambling addicts resort to dishonest means to fuel their habit. “We do not believe that legalizing online gambling or casinos will reduce or eliminate illegal online gambling sites and illegal gambling dens,” Mr. Bodinchai said. “It is merely an excuse to trick people.”
This petition comes as the government progresses with its plans to legalize casino-entertainment complexes through the Entertainment Complex Business Act. The draft act, currently in its final stages of public hearings, is expected to be submitted to the Cabinet for approval on March 4th.
The proposed legislation aims to bring Thailand’s substantial underground gambling industry into the legal framework, generating tax revenue. The act outlines regulations regarding the establishment, operation, and oversight of these entertainment complexes, including requirements for substantial registered capital and stringent entry fees for Thai nationals.
According to government sources, the Entertainment Complex Business Act is projected to be enacted by the first quarter of 2026, with construction of the complexes expected to begin in 2027. The bill itself does not include online gambling.
The youth network’s petition underscores the growing debate surrounding the potential benefits and risks of legalizing gambling in Thailand, particularly concerning the impact on vulnerable young people.
DigiPlus Interactive Corp., a Philippine-based digital entertainment company, has announced the formation of DigiPlus Global Pte. Ltd., a wholly-owned subsidiary, to be incorporated in Singapore.
The decision, approved by the company’s Board of Directors on February 26th, 2025, is part of the company’s strategy to facilitate international growth.
According to a company filing, DigiPlus Global will function as a support center and regional hub, focusing primarily on strategic partnerships, talent acquisition, and international expansion. The subsidiary will be wholly owned by Diginvest Holdings Inc., a subsidiary of DigiPlus Interactive.
“Singapore is a world-class hub for business, technology, and talent,” said Eusebio Tanco, Chairman of DigiPlus Interactive, in the announcement. He explained that the establishment of DigiPlus Global aims to strengthen the company’s ability to attract top-tier professionals, develop strategic alliances, and expand its international presence.
DigiPlus Interactive operates several digital entertainment platforms in the Philippines, including BingoPlus, ArenaPlus, and GameZone. The company clarified that DigiPlus Global will focus on corporate and operational support functions and will not engage in iGaming operations within Singapore, in compliance with local regulations.
The company noted that the Singapore subsidiary is strategically positioned to leverage the country’s advanced business infrastructure and global connectivity, further solidifying DigiPlus as a leader in digital entertainment.
It is also worth noting that DigiPlus’ subsidiary, DigiPlus Brazil Interactive Ltda., recently obtained a gaming license from the Brazilian Ministry of Finance’s Secretariat of Awards and Bets. This license allows DigiPlus to operate land-based and online sports betting, electronic games, live game studios, and other fixed-odds betting activities.
As reported by AGB, DigiPlus plans to launch its Brazilian gaming operations, starting with sports betting. The company has already allocated PHP660 million ($11.4 million) to cover initial costs, including license fees, capitalization, financial reserves, and other operational expenses for the first three months of its operations launch in Brazil.
Crown Resorts has announced that it is going to redevelop its entertainment venue in Crown Melbourne, The Palms, into a ‘world-class 1,200-seat theater’.
The ‘major redevelopment’ is set to commence at the beginning of 2026, and acts as an ‘important component of Crown’s strategy to elevate our entertainment offering and become Australia’s ultimate entertainment destination’.
The theater redevelopment also aims to ‘enhance Melbourne’s tourism industry and provide an economic boost to the entertainment sector’.
Speaking of the upgrade, Crown Melbourne CEO Mike Volkert noted that “This project is the first of many as part of our strategic vision to continue investing in Crown Melbourne to transform Crown into Melbourne’s ultimate entertainment destination and significantly contribute to Melbourne’s cultural economy as we work to revitalize our city’s nightlife, entertainment and dining experiences”.
The Palms first opened in 1997, and typically hosts over 150 shows per year.
According to Crown Melbourne’s website, the venue currently has bookings through October 7th.
Good morning. Results continue to flood in, bringing with them much Light & Wonder. The company saw a strong finish to 2024, marking its 15th consecutive quarter of revenue growth, which topped out at $797 million, boosting its FY24 revenue to nearly $3.2 billion, with strong performance in gaming. Meanwhile, IGT saw a slight contraction in 4Q24 revenue, but still registered its second-highest performance on record. Looking at the Philippines, Moody’s warns that the removal from the FATF grey list doesn’t mean the country has solved all its problems, particularly looking at crypto and online gaming. And in Macau, MGM China is going after a $2 billion loan, as it aims to maintain its growth.
Light & Wonder saw a strong fourth quarter, further boosting its full-year results. The group recorded its 15th consecutive quarter of yearly revenue growth, topping out at $797 million. Gaming revenue was up by 4 percent, despite a slight drop in gaming machine sales. Overall, the year was impressive, with nearly $3.2 billion in revenue, with the group now considering further listings on the Australian Securities Exchange.
In 2024, 1xBet achieved significant breakthroughs and successes, solidifying its position in the iGaming industry. The brand secured major partnership deals, received prestigious awards, and showcased its innovations at the world’s leading forums.
International Game Technology (IGT) saw a 4 percent contraction in revenue for the fourth quarter of 2024, still registering as the second highest quarter for product sales revenue in the company’s history.
This group notes the drop is ‘mainly due to the comparisons with record product sales revenue in the prior year’.
The group’s top performing segment was its instant ticket & draw wager-based revenue, which was up by 2 percent yearly, to $511 million in the quarter. US multi-state jackpot wager-based revenue was down by 21 percent yearly, to $26 million, while product sales revenue fell by 32 percent yearly, to $60 million.
Income from continuing operations was up by 60 percent yearly in 4Q24, amounting to $116 million.
FY24 and expectations for 2025
Looking at the full-year results, revenue was down slightly, by 1 percent, to $2.51 billion, while income from continuing operations increased by 2 percent yearly, to $271 million.
The group notes that the revenue was driven by instant ticket and draw game sales in the US & Canada and Italy.
Vince Saudsky, CEO, IGT
Speaking of the results, IGT CEO Vince Saudsky noted that “Our unmatched capabilities in developing world-class Lottery solutions and innovative game content support several important investments to drive long-term growth and shareholder returns. We are well-positioned to continue strengthening our global lottery leadership”.
The executive also commented on the sale of its Gaming & Digital business, noting “2024 was a year of momentous transformation with the conclusion of our strategic review and the announced sale of our Gaming & Digital business for $4.05 billion in cash”.
The sale is expected to close by the end of the third quarter of 2025, with the business segment going to funds managed by affiliates of Apollo Global Management.
Looking ahead to FY25, the group notes it is expecting a revenue increase in the low-mid single digits, estimated to be $2.55 billion to $2.65 billion. This is backed by low-single-digit increases in global same-store sales and higher product sales – ‘driven by sustainable instant ticket services growth’.
The group is expecting adjusted EBITDA of between $1.1 billion and $1.15 billion for FY25.
Gaming equipment and services group Light & Wonder has announced that it achieved 15 consecutive quarters of consolidated yearly revenue growth, with 4Q24 revenue up by 4 percent yearly to $797 million.
According to the group’s latest financials published on Wednesday morning, the group also saw four consecutive quarters of double-digit adjusted profit (NPATA), up by 24 percent yearly to $127 million.
Consolidated AEBITDA for the period also increased by 4 percent yearly, to $315 million.
During the period, gaming revenue increased by 4 percent yearly, to $515 million, which the group says was primarily led by continued growth in Gaming Systems ($88 million) and Table products ($57 million) – growing by 24 percent and 10 percent yearly, respectively.
The group’s gaming operations revenue increased by 4.1 percent yearly, to $175 million, while gaming machine sales revenue fell by 4.87 percent, to $195 million. This comes despite a 25 percent increase in North America shipments year-on-year, ‘driven by replacement units with support from new casino openings and expansions’.
Global unit shipments were down by 21 percent yearly, to 9,589, with a 51 percent drop in international unit shipments – totaling just 3,609.
The group’s SciPlay segment revenue was flat during the period, at $204 million. Revenue from third-party platforms was down by 10 percent yearly, to $177 million, while its direct-to-consumer platforms revenue increased by nearly 286 percent yearly, to $27 million.
Regarding the iGaming segment, revenue was up by 11 percent yearly, to $78 million – a quarterly record, ‘primarily driven by strong performance in North American and European markets, compelling product launches, along with overarching industry growth’. Gross gaming revenue from the group’s Lightning Box product increased by 35 percent yearly in 4Q24. The wagers processed through its OPENGAMING System (OGS) totaled $24 billion, up by 11 percent yearly.
FY24 and expectations for FY25
Overall revenue grew by 10 percent yearly for the group in 2024, nearing $3.2 billion, pushing a 24 percent boost in profit (NPATA) – to $480 million. Consolidated AEBITDA was up by 11 percent yearly, to $1.24 billion.
Gaming revenue increased by 4 percent yearly, to nearly $2.07 billion, with all subsegments recording yearly growth except for table products. Gaming operations revenue increased by 4 percent to $690 million, gaming machine sales revenue by 22 percent, to $895 million, gaming systems revenue was up 13 percent to $302 million. Table products revenue was down 1 percent yearly, to $211 million.
Global unit shipments during the year were up by 16 percent year-on-year, to 43,658. North American unit shipments rose by 21 percent, to 22,320, while international shipments were up 12 percent, to 21,338.
Matt Wilson, President and CEO of Light & Wonder
Speaking of the results, Matt Wilson – President and CEO of L&W said “We ended a strong 2024 with continued double-digit revenue and earnings growth for the year. This year, the Gaming machine sales share gains in North America and Australiaare a testament to our R&D investment, commercial strategy and robust product roadmap”.
The executive also commented on the recently announced acquisition of Grover Gaming’s charitable business, noting it “enhances our cross-platform strategy and presence in regulated land-based markets, giving us a broader distribution base for our vast content library and accelerating our drive for sustainable future growth”.
The acquisition involves an upfront amount of $850 million cash and a revenue-based earn-out of up to $200 million cash over a four-year period. The transaction is expected to close during the second quarter of 2025.
The group also announced that it had entered into an agreement to pay $72.5 million in February of 2025 to resolve antitrust claims related to its automatic card shuffler business. The antitrust claims are based on alleged conduct beginning in 2009. ‘While the settlement resolves the disputed claims, the Company has not admitted any liability in this matter,’ the company indicates.
Regarding the first quarter of 2025, the group notes that ‘Based on the timing dynamics of Game Sales and high-return investment opportunities, both of which are expected to drive enhanced organic growth as the year progresses, we expect first quarter 2025 year-over-year Consolidated AEBITDA growth to be in the low double-digits’.
ASX listing review
The group further notes that it is considering ‘both a dual primary and a sole listing on the ASX (Australian Securities Exchange)’. This comes as the company nears its second anniversary of its secondary listing on the ASX, which now represents about 30 percent of total ownership.
The company has engaged advisors to ‘evaluate potential strategies to achieve this objective’ and notes it will seek feedback from key stakeholders’.
Speaking of the possible move, L&W’s Chair of the Board of Directors, Jamie Odell noted “The ASX is a premier exchange with a strong history of supporting global gaming companies, offering access to a deep and liquid market of sophisticated investors and industry participants with a comprehensive understanding of the gaming sector. We look forward to engaging with the market and our existing shareholders to further elevate the profile of our ASX listing”.
Continent 8 Technologies, a premier provider of global managed hosting, connectivity, cloud, and cybersecurity solutions for the iGaming and online sports betting industry, has unveiled its ongoing expansion in the US with the launch of its data center and managed and professional services in Missouri.
Following the approval of Missouri Amendment 2 on November 5, 2024, the Missouri Gaming Commission (MGC) is preparing the state for the launch of its regulated online sports betting market, scheduled for December 1, 2025. Continent 8’s first-to-market strategic approach provides Missouri online sports betting operators and suppliers with immediate access to Continent 8’s data center, along with a full suite of best-in-class services that facilitate the rapid deployment of secure, resilient, zero-compromise gaming platforms.
The US continues to be a strategic market for Continent 8, as it remains not only the fastest growing, but only end-to-end solutions provider for the gaming industry in the nation. Continent 8 possesses requisite regulatory licenses, certifications, approvals and registrations across more than 30 states, including Michigan, New Jersey, Pennsylvania and now Missouri. The most recent EGR Power US Rankings underscores Continent 8’s position as the premier service provider in the industry, servicing and supporting 95% of the listed operators.
Michael Tobin, CEO & Founder of C8 Technologies
Michael Tobin, CEO and Founder of Continent 8 Technologies, stated: “The approval of Missouri Amendment 2 highlights the continuous growth of the regulated and highly competitive US online sports betting market. We are thrilled to already be engaged with numerous customers and actively preparing their environments for the soon-to-open market.”
“Our approach, anchored in regulatory compliance, ensures that gaming operators and suppliers are equipped with market-ready solutions to swiftly establish state-compliant, secure and uncompromising infrastructures, while providing ample time to optimize their platforms well in advance of the state’s launch date.”
