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In the USA, millions of dollars are being wagered on obscure table tennis matches in Eastern Europe. Last year in February, in a sparsely filled gymnasium in Poland, two relatively unknown players battled it out in a 14-minute match. Thousands of miles away, an American sports bettor placed an impressive $35,000 bet on the outcome, one of the biggest bets ever placed on the sport.

In 2023 alone, Colorado saw $107 million in wagers placed on table tennis. Data from the Oregon Lottery reveals that table tennis has quietly become one of the most popular sports for betting. In 2023, $57 million was bet on the sport, a dramatic increase from the $18.5 million wagered in 2022. This surge represents 890,000 individual bets. Although table tennis still comes behind basketball, football, and baseball, it now outpaces more traditional sports like tennis, soccer, hockey, and golf in terms of betting interest.

Bettors are even wagering more per game on table tennis than on other sports. The average table tennis bet stands at $66, compared to $24 on NFL games, $34 on Major League Baseball, and $41 on NBA games.

The matches, are often held in rundown gymnasiums with no live audience, announcers, or fans, and have scores kept manually. The players, while skilled, are far from elite.

“It isn’t the highest level. I would consider it club-level. These are serious players but not close to the national team,” said Sean O’Neill, a two-time Olympian. So, why the intense betting interest?

“This is like the crack cocaine of sports gambling,” explained Dr. Ken Pendleton from the University of Oregon. He pointed out that the sheer volume of matches, with new games starting constantly, coupled with their short duration, allows for rapid, repeated betting. The relentless pace and continuous action leave little room for downtime, keeping bettors constantly engaged. Most of them watch these matches on YouTube or directly through betting platforms.

The surge in popularity began during the COVID-19 pandemic when most mainstream sporting events were cancelled. The demand for these table tennis matches was so overwhelming that the number of games skyrocketed, and continues to grow.

“They’ve got players competing 24/7, around the clock,” said O’Neill. “Matches are happening at 3 a.m., 4 a.m., 5 a.m., all because they’re being broadcast for the betting community. Bettors are always looking for the next match.”

In 2020, authorities in Colorado and New Jersey temporarily banned betting on table tennis over concerns about potential match-fixing in Ukraine. However, most of these matches are organised by the TT Elite Series, based in Poland. This organisation has never been implicated in match-fixing scandals and has been diligent in maintaining the integrity of its matches.

Platforms like DraftKings, which stream these games to American bettors, also play a role in safeguarding against match-fixing by closely monitoring betting patterns.

Led by a distinguished board of directors, the General Commercial Gaming Regulatory Authority (GCGRA) has been very much in the headlines recently with the announcement of its lottery licence. Chairman Jim Murren (pictured above) brings extensive experience from the gaming and hospitality industries, including his previous role as Chairman and CEO of MGM Resorts International. Aside from being the Chairman of GCGRA, Murren also has current roles and responsibilities as the chief executive officer at The Ritz-Carlton Yacht Collection. His leadership is crucial as GCGRA navigates this transformative period for the UAE’s gaming sector.

The Vice Chairman, Chris O’Donnell, brings extensive experience in real estate and investment from major UAE firms, enhancing the company’s regulatory and investment strategies. He previously served as CEO of Nakheel Properties and Emaar Developments, Head of Real Estate at Al Futtaim Group, and Director at CityCenter Holdings in Las Vegas. Chris currently holds the position of Managing Director at CNN Advisory.

Nicholas Casiello, Jr., is a retired attorney with over 40 years of experience in gaming law. His global perspective on gaming regulations and compliance has been instrumental in shaping the authority’s regulatory framework. In addition to serving as a board member of GCGRA, Casiello is also a part-time advisory council member at Seton Hall University School of Law and a member of the Compliance Committee at Interblock Gaming.

William W. Grounds has provided valuable insights into strategic development and oversight through his experience in managing high-profile real estate investments and serving on gaming company boards. He has served on the boards of MGM Resorts International for eight years. He is currently on the boards of Consumer Portfolio Services and PointsBet Holdings. Grounds has also held senior positions at Lend Lease Corporation, where he managed the Sydney 2000 Olympics Games Project and the NSW and WA Regions.

John Kelly, a partner at the London-based law firm Harbottle & Lewis, specialises in reputation protection, data privacy, and defamation. With over 30 years of legal experience, he has represented high-profile clients globally, particularly in sports law. Kelly is recognised as an authority in his field by Chambers UK, Chambers HNW, The Legal 500, and The Spear’s 500.

Giovanni Lega, a prominent business lawyer with over 30 years of experience in international transactions, offers a global perspective on gaming investments and regulatory issues. He is the founding and managing partner at the Italian law firm LCA. He has previously served as the managing partner of the Italian offices of Freshfields. Additionally, he was the founding chairman of ASLA, the organisation representing leading Italian and international law firms in Italy.

Mark A. Lipparelli is a highly experienced figure in the gaming industry and currently serves as the CEO and Managing Member of Gioco Ventures. He holds leadership positions in gaming companies and advisory boards, including Galaxy Gaming, Inc. and Golden Entertainment. Mark’s extensive background includes serving as a Nevada State Senator, chairing the Nevada Gaming Control Board, and holding senior roles at Bally Technologies, Shuffle Master, and Casino Data Systems. He is also actively involved in gaming technology and regulation.

Issuing the lottery licence represents the beginning of a new chapter for the UAE’s gaming industry. As the GCGRA continues to lead in commercial gaming regulation, its dedication to transparency, innovation, and responsible practises will play a pivotal role in shaping the future of gaming in the UAE.

The GCGRA has made a tremendous advancement in the UAE’s gaming sector by issuing the country’s first-ever lottery licence to The Game LLC. This milestone is a crucial development in the UAE’s gaming industry and may pave the way for the potential legalisation of other forms of gambling, including casinos, in the future.

Established by Federal Law by Decree and based in Abu Dhabi, the GCGRA oversees the regulation, licensing, and supervision of all commercial gaming activities within the UAE. This role is essential in maintaining a fair, transparent, and well-regulated gaming sector.

The GCGRA’s responsibilities include creating and enforcing regulatory frameworks to govern commercial gaming. These frameworks ensure that gaming operations adhere to high safety, quality, and consumer protection standards. The authority manages a clear and transparent licensing process, issuing licences only to entities that meet strict criteria.

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A potential agreement between the PSC (Socialists’ Party of Catalonia) and the Comuns to appoint Salvador Illa as the President of Catalonia has sparked interest as it encloses a decision to halt the development of the Hard Rock macro-project. This proposed leisure complex in Salou, set to feature hotels, a casino, entertainment venues, and a shopping avenue near PortAventura, has been a contentious issue among Catalan political parties and even led to a budgetary dilemma within the Catalan government.

Catalonia, an autonomous community in northeastern Spain, known for its rich cultural heritage, distinct language (Catalan), and vibrant cities like Barcelona. It boasts a diverse landscape, from beautiful Mediterranean beaches to the scenic Pyrenees mountains.

The specifics of the pre-agreement with the PSC and the Comuns’ support for Illa’s presidency have come to light, with Esquerra Republicana signalling approval.

Outlined in a detailed five-point action plan, the agreement emphasises the creation of more public housing, regulating seasonal rentals, promoting educational policies, and enhancing public health services with increased funding and accessible social security psychologists.

One important aspect of the agreement is the opposition to large-scale projects. Although the expansion of Prat Airport is not mentioned, the document clearly states that neither the extension of the ‘Quart Cinturó’ nor the construction of the Hard Rock project in Catalonia will happen during this term in office.

The Hard Rock casino complex, proposed over a decade ago, has been a contentious issue in Catalonia. Initially envisioned as a massive leisure and gaming complex near PortAventura, the project has faced significant opposition. Critics argue it would harm the environment, increase gambling addiction, and promote a mass tourism model that doesn’t benefit the local area. The ongoing drought in Catalonia has further complicated public approval.

Supporters, however, see it as a significant economic opportunity that could boost Catalonia’s GDP. The project has been stalled for years, awaiting a new Urban Development Plan after the original was annulled by the Catalan High Court in 2020. Currently, the approval of the Hard Rock project is a key factor in passing the 2024 budget, with political parties divided on its future. The outcome remains uncertain as negotiations continue.

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Despite facing a multitude of challenges, Entain’s H1 results for 2024 have surfaced as a sign of the company’s resilience. Analysts perceive that this promising outcome may overcome the company’s challenges of the past year’s difficulties, suggesting a glimmer of hope at the end of Entain’s seemingly dark tunnel.

Much of Entain’s optimism can be attributed to the work of Stella David. Her contribution to the company’s turnaround story will undoubtedly be remembered in Entain’s history.

In the first half of the year, Entain reported a 6 percent increase in its total net gaming revenue, reaching ￡2.56 billion by the end of June. This growth represents an 8 percent rise at a constant currency level. The company’s underlying earnings also saw a positive trend, advancing by 5 percent to ￡523.8 million. Entain also managed to significantly reduce its losses from ￡502.5 million to a much lower ￡46.9 million.

The performance of net gaming revenues varied across different regions. In the UK and Ireland, there was a decrease of 6 percent, while the international division saw a modest growth of 3 percent.. However, the central and eastern Europe regions outperformed others with a robust 12 percent increase. Following these encouraging results, Entain, a FTSE 100 company, declared an interim dividend of 9.3p, marking a 5 percent increase.

These figures demonstrate Entain’s ability to generate revenue growth in a period when market conditions have been very challenging. The company’s strategic focus on diversifying its revenue sources across different regions has played a key role in this positive outcome. The significant reduction in losses also indicates improved operational efficiency and effective cost management strategies. The decision to increase the interim dividend reflects the company’s confidence in its financial health and future prospects. Overall, the net gaming revenue paints an encouraging picture of Entain’s performance during this period and its potential for sustained growth in the future.

In the face of heightened competition and tough regulatory shifts in crucial markets, Entain found a silver lining in major football events. The first half of 2024 saw the company buoyed by tournaments such as Euro 2024, the European Champions League, and the English Premier League. These events contributed to a 6 percent increase in Entain’s total net gaming revenue, reaching ￡2.56 billion by the end of June.

The championship’s stronger than anticipated win margins gave a significant boost to Entain. The company reported a 5 percent increase in online net gaming revenues for the half-year, a notable improvement considering revenues were flat prior to the Euros and had even dipped by 2 percent in the first quarter.

Rob Wood, Entain’s chief financial officer, highlighted the positive impact of the 19 drawn games, noting that these results were beneficial as customers typically “don’t bet on draws”.

In addition, Entain’s operations in Brazil saw a robust growth of 28 percent in the half-year, with Wood commenting that the country was beginning to hit its stride.

In response to these positive developments, Entain revised its full-year forecast for online net gaming revenues. Instead of a previously expected low-single-digit decline, the company now anticipates a low-single-digit increase. It also projected underlying earnings to be between ￡1.04 billion and ￡1.09 billion, which is 2 percent above the consensus expectations in the City. This surprising return to revenue growth reflects the company’s resilience and adaptability in a dynamic and unpredictable market.

However, the landscape was less rosy for BetMGM, Entain’s joint venture with MGM Resorts in the United States. With fierce competition and escalating marketing costs, BetMGM recently issued a warning that its annual losses would exceed previous estimates. Despite this, BetMGM managed to stabilize around a 13 percent market share in the US legal sports betting industry. The first half of 2024 was deemed a “year of investment” for BetMGM, with a focus on improving customer experience and stepping up investment in players.

These contrasting scenarios highlight the dynamic and challenging nature of the global gaming industry. Despite the hurdles, Entain’s performance in the first half of 2024 demonstrates its ability to drive growth and deliver value to its stakeholders.

Jette Nygaard-Andersen’s tenure as CEO of Entain during the COVID-19 pandemic was indeed a period of significant growth for the company, as was the case for many gaming companies. The shift to remote work and the increased free time led to a surge in online betting, contributing to a boom in the industry during the pandemic years.

However, it seems that Nygaard-Andersen’s legacy at Entain will be defined more by her aggressive mergers and acquisitions strategy. Her voracious appetite for M&A led to a series of ‘shopping sprees’, which, while expanding Entain’s portfolio, also raised concerns about over-expenditure. Her inability to curb this spending has been noted as a key aspect of her leadership style.

While this approach may have contributed to short-term growth, questions remain about Entain’s long-term sustainability and the impact on the company’s financial health. As the company moves forward, it will be interesting to see how it approaches the path set by Nygaard.Andersen and how it will manage its growth strategy in the future.

Stella David has indeed played an instrumental role in steering Entain back to a successful trajectory. Her leadership has been marked by strategic decisions and effective governance that have revitalized the company. Now, as she prepares to pass the baton of leadership to Gavin Isaacs, it’s clear that her tenure has been transformative for Entain.

Under Stella David’s interim stewardship, Entain has rebounded from the challenging period of the Nygaard-Andersen era. David’s sensible and adept management and strategic foresight have not only steadied the ship but also set it sailing back towards sustained growth. The glory once associated with Entain has been restored in H1 2024.

As David steps into her new role as Chairperson of Entain with Isaacs at the helm as CEO, the company stands on more solid ground than it did six months ago. The legacy of David’s successful tenure provides a strong foundation for Isaacs to build upon.

As we look ahead to the second half of 2024, the key question that emerges is whether Gavin Isaacs will be able to sustain the positive momentum established under Stella David. Will he successfully carry forward this upward trend and continue to steer Entain on a successful course during the second quarter? Only time will tell.

Entain PLC, listed on the London Stock Exchange under the ticker symbol ENT, saw its share price increase by 1.44 percent to 557.90 GBX.