Casino News Roundup on 22.10: The Latest From The Casino & Gambling Industry

The Swedish National Audit Office (NAO) has raised significant concerns about the effectiveness of Spelinspektionen, the country's gambling regulator. The NAO's review indicates that the regulator is not conducting sufficient inspections of both licensed and unlicensed markets, which is seen as its “biggest shortcoming.” 

Hedvig Tängdén, project manager for the review, emphasized the need for a systematic risk analysis to improve monitoring efforts. The NAO also pointed out that the regulator's capacity to follow up on previous supervisory decisions has been lacking, potentially leading to compliance issues going unaddressed. 

Both Spelinspektionen and the government share responsibility for the regulatory shortcomings, according to the NAO. 

The review suggests that clearer guidelines in the gambling law would assist in supervision and reduce grey market activities. In response, Spelinspektionen’s director general, Camilla Rosenberg, stated that increased funding would be crucial for enhancing regulatory practices. She acknowledged the need to develop and streamline processes further to address the ongoing challenges. 

Gateway Casinos & Entertainment marks its silver anniversary in London, Ontario, celebrating 25 remarkable years. Currently undergoing a major renovation, the London Fairgrounds Casino will soon be known as Cascades Casino London. 

The expansion will include a 20,000 square foot addition, MATCH Eatery & Public House and Chow Lucky Noodle Bar, and a vibrant new centre bar and lounge.

The renovations are expected to be completed in spring 2026, and throughout this period, Gateway Casinos London remains open for business.  

In recognition of this milestone, Gateway GIVES will donate $2,500 each to local charities, including the London Down Syndrome Association, London Cares, and Mission Services London. With over $100 million contributed to the city through the OLG’s Municipal Contribution Agreement Program in the last 25 years, the casino continues to be a crucial resource for the community. 

Political betting is surging ahead of the 2024 US presidential election, with platforms like Polymarket reporting over $1.2 billion in bets. Despite ongoing legal debates, a recent appeals court ruling allows prediction markets to offer contracts on US elections. 

Polymarket shows a 62% opportunity for a Trump win, with millions being wagered by investors and celebrities alike. 

As betting odds gain attention like traditional polls, analysts note that betting markets react more quickly to real-time events compared to conventional polling. However, concerns surround the potential for insider information and market manipulation, reminding participants to tread carefully. 

In the wake of significant scrutiny, the Financial Conduct Authority (FCA) of the UK has defended its rigorous registration requirements for crypto firms.  

Only 13% of crypto firm applications were approved last year, as the FCA's stance aims to establish trust and ensure that new entrants adhere to robust standards that protect consumers and maintain market integrity. 

In a strategic move, XLMedia has agreed to sell its North American business to Sportradar for $30 million. An initial payment of $20 million with an additional $10 million based on future performance. XLMedia specializes in performance marketing, helping with customer acquisition through targeted campaigns, particularly in the online casino sectors, sports betting, and personal finance.

Sale allows XLMedia to refocus and streamline its operations, with the anticipated completion soon after shareholder approval on November 7th. Company states that selling the North American segment provides fair value while allowing the company to optimize its focus on core growth areas. 

Earlier this year, XLMedia also sold its Europe and Canada sports betting and gaming assets to Gambling.com Group.

The National Revenue Agency (NRA) of Bulgaria has significantly expanded its online gambling blacklist, adding 52 more operators that have targeted Bulgarian users without licensing. If these websites do not comply within three days of notice, the NRA may pursue legal actions to block access to them through internet service providers. 

This enforcement comes amidst growing concerns over illegal gambling activities, such as those highlighted in a recent scam in , a Bulgarian city known for its 30 casino destinations, which has drawn attention to the need for tighter regulation.