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i GAMING BUSINESS • ISSUE 138 • iGB L!VE 2025 OFFICIAL MAGAZINE OF ISSUE 138 ● iGB L!VE 2025 PLUS IT’S ‘GAME ON’ FOR VEIKKAUS IGAMING’S REDUNDANCY CRISIS THE PROBLEM WITH PLAYER CHURNiWELCOME igamingbusiness.com It’s been a tough few years for gaming, and a theme we explore in this issue is the requirement for companies to do more with less: the need to make more money with less accessibility in regulated markets, to increase player protection measures while also growing player activity, to appease shareholders while grappling with shrinking public funding in the UK. Despite London’s prominent role in the gaming industry, the city’s public equity market has been rocked by weak economic conditions causing listed incumbents like Shell and Wise to reconsider their listings. The overall shrinkage happening in London’s Stock Exchange is being mirrored by the sector, largely due to consolidation among key players. Our cover feature on p34 explores what this trend means and what’s behind the allure of other capital markets, particularly US exchanges. This issue also takes a look at the redundancy crisis rocking gambling hubs Gibraltar and Malta (p72), as well as Finnish monopoly Veikkaus’ plans to seize a leading position in the upcoming liberalised market (p30). And data from the Department of Trust dives into player churn in the UK to assess the stickiness of new gamblers and the overall churn rate of active players (p48). We’re navigating through tough times as an industry but there are green shoots emerging in the UK as it returns to growth, and there’s a lot to still look forward to. Starting with iGB L!VE, of course! Nicole Macedo Managing editor, EMEA Printed in the UK by Micropress Ltd. Published by iGaming Business Ltd, 3rd Floor, Bedford House, Fulham Green, 69-79 Fulham High Street, London SW6 3JW, UK. www.igamingbusiness.com iGaming Business is published biannually © iGaming Business Ltd 2025. All rights reserved. No part of this publication may be reproduced or transmitted in any form or by any means, or stored in any retrieval system of any nature without prior written permission, except for permitted fair dealing under the Copyright Designs and Patents Act 1988. Application for permission for use of copyright material including permission to reproduce extracts in other published works shall be made to the publishers. Full acknowledgement of author, publisher and source must be given. The paper used within this publication has been sourced from a Chain-of-Custody certified manufacturer, operating within international environmental standards such as ISO14001 and EMAS. This is to ensure sustainable sourcing of the raw materials, sustainable production and to minimise our carbon footprint. ISSN 1756-3437. Global content director, B2B Robin Harrison robin.harrison-millan@ clariongaming.com Managing editor, EMEA Nicole Macedo nicole.macedo@ clarionevents.com Production editor Guy Parsons Digital design lead Theo Szarowicz Design Digitalstudioworldwide.com Senior reporter Kyle Goldsmith Data analysis Tansu Yilmaz Commercial content Michelle Druker, James Swann- Phillips, Jake Nordland Managing director Alex Pratt Managing director, EMEA Digital Sophie Webster Global portfolio director Richard Linn richard.linn@clariongaming.com Non-executive chairman Michael Caselli michaelc@clariongaming.com Sales director Ian Larcombe ian.larcombe@clariongaming.com Account managers Kane Dalton, Laurie Pilate, Sam Richardson, Jack Rogers, Jordan Thompson, Josh Wright first name.last name@ clariongaming.com EDITOR'S LETTER SIGN UP FOR OUR NEWSLETTERS igamingbusiness. com/newsletter iGB L!VE 2025 • ISSUE 138 • 05 71 34 The macroeconomic forces shaping capital accessibility, valuations and M&A appetite in the iGaming sector Calls for further restrictive measures on the sector are misguided and plain wrongRather than eating brick-and-mortar alive, BetMGM’s Adam Greenblatt says that iGaming and retail can happily share the same plate. TABLE FOR TWO WHAT’S INSIDE • iGB LIVE 2025 With ever increasing consolidation, regulatory hassle and attractive- looking overseas exchanges, it’s little wonder the UK is losing its appeal. WISH YOU WERE HERE? Given the number of iGaming professionals currently looking for work, one thing is clear: the sector’s employment landscape is changing. SITUATION’S BLATANT 72 20 34 CONTENTS igamingbusiness.com iGB L!VE 2025 • ISSUE 138 • 07 CONTENTS igamingbusiness.com LET’S GET SOCIAL REGULARS 05 Editor’s letter 10 News TECH & INNOVATION 12 How much of a threat are deepfakes to the gambling sector? CASINO & GAMES 16 Solaire North shows the way for Philippines’ land-based gaming 20 Retail and digital can go hand in hand SPORTS BETTING 27 Personality-driven sports are shaping the future of betting 30 Veikkaus: Let the games begin FEATURES 34 Is the UK still attractive to listed operators? 42 Legacy lotteries are at risk of cannibalisation 48 DoT data: Is player churn a real problem for UK operators? MARKETING & AFFILIATES 55 The pros and cons of capping wagering requirments 60 Brazil’s betting sector pushes back as tighter ad restrictions loom SOCIAL RESPONSIBILITY 65 The £100 million statutory levy gamble FINANCE 69 Debt, dollars and deal-making PEOPLE 72 New chapter: Is the industry grappling with a redundancy crisis? REGULATION 76 White paper: Not gone but already forgotten? 78 Wiggin European regulatory roundup DATA 84 H2 igaming dashboard 86 H2 mobile dashboard 88 Top 50 gaming sites READ YOUR DIGITAL VERSION AT IGAMING BUSINESS.COM LET’S GET DIGITAL X @IGAMINGBUSINESS LINKEDIN @IGAMING BUSINESS WHATSAPP 08 • ISSUE 138 • iGB L!VE 2025 27Next >