Good morning. “Take the money and run”. It’s not only the name of a genius art piece but also a strategy too-often utilized by online gambling-linked companies. And, despite high-profile sponsorship of sporting teams and events, the fact that some companies can simply vanish overnight is concerning – as evidenced by the disappearing act of 8XBet. Meanwhile, gaming suppliers are playing a balancing act, trying to leverage their $16.4 billion in debt while ensuring positive returns. Land-based operations aren’t immune from the debt threat, as Mohegan’s INSPIRE feels the crunch as loans come due.
What you need to know
- The overnight disappearance of 8XBet highlights the fast-paced nature of online gambling brands, and how they dodge regulators.
- Data published in a recent CBRE research report show that major gaming suppliers are currently holding $16.4 billion in debt.
- Mohegan INSPIRE faces significant financial strain, with potential loan defaults looming due to ongoing operational challenges.
On the radar
- Jeju Dream Tower casino sales jump 93.3% y-on-y in 2024.
- Paradise Co. reports 10.2% y-on-y rise in casino results in 2024.
- Macau GGR in 2025 could surpass gov’t estimates, topping $31 billion.
- Operators with Malaysia presence should see better performance in 2024.
- DigiPlus secures gaming license in Brazil to offer land-based and online.
- Singapore Police now in charge of blocking illegal gambling websites.
- Appeal launched over $1.6 billion Baha Mar ruling.
- PAGCOR warns public about deepfake video advertising fake gaming app.
AGB Intelligence
ONLINE
The disappearance of 8XBet raises questions
Sponsorship of major sporting teams by gambling-linked companies has been a hot topic recently, and will likely continue to be so, as more cases emerge of enterprises making a big splash before quickly fading from view. The recent disappearance of former Manchester City sponsor 8XBet highlights the oftentimes shadowy nature of the corporate leadership, and ability for companies to dodge regulators by setting up shop, raking in the cash, and disappearing into the sunset.
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