A suspected hacker linked to the MGM cyberattack has been apprehended in Spain. The Spanish national police arrested a 22-year-old UK national at Palma Airport on June 14 as he attempted to board a flight to Italy. The FBI's Los Angeles field office had issued an arrest warrant for him. This individual is believed to be connected to Scattered Spider, a group that has allegedly targeted several major corporations, including Caesars Entertainment, which experienced a hack last autumn. Reports claim the arrested man controlled Bitcoin assets valued at around $27 million and hacked corporate accounts.
In Colorado, nearly five years after digital sports betting was legalized, the state's tribes remain excluded from participating. According to the Colorado Sun, the lack of an agreement on operational terms has been a barrier. A key concern is the funding for water projects in Colorado, which is supported by sports betting revenue. Tribal gaming operates under different regulations, which could mean that the Mountain Ute and Southern Ute tribes wouldn’t contribute to the state revenue like commercial operators are required to. This scenario has raised concerns about potential declines in tax revenue if tribes were allowed to engage in digital sports betting through kiosks.
Voters in Colorado will have the opportunity to weigh in on state wagering revenue regulations this November. Currently, there is a $29 million cap on annual revenue collection from wagering, although projections suggest operators might generate over $32 million in tax revenue in the upcoming fiscal year.
Recent data from Jefferies Capital indicates significant growth in the U.S. online sports betting and casino markets. Compared to May of the previous year, online sports betting handle has risen 44%, while gross gaming revenue (GGR) has climbed 30%. As of June 21, 18 states reported their revenue figures. The trend for online gambling is similarly encouraging, with a 27% year-over-year increase in GGR reported by five states. According to Jefferies analysts, FanDuel continues to lead the market in both sports betting and online casinos, maintaining its position as the top brand for the eighth consecutive month.
In Las Vegas, as the Tropicana shuts down and The Mirage prepares to close on July 14, Truist Securities predicts a net loss of 4,500 hotel rooms on the Strip. Despite expectations that this could drive prices higher, analyst Barry Jonas notes that room rates at The Mirage have actually decreased by 44% to 46% compared to the same period last year. He anticipates that rates in the third quarter will remain flat year over year.
In another development, the UK Gambling Commission has extended its investigation into potential insider betting related to the upcoming election, following reports of a fourth party bettor. This individual, Conservative chief data officer Nick Mason, has taken a leave of absence and has denied any wrongdoing. The inquiry seeks to identify any third-party bettors who may have placed bets on behalf of politically exposed persons.
Meanwhile, the Navajo Nation Gaming Enterprise has appointed John James as its new CEO. With extensive experience in leading tribal casinos, including as CEO of the River Rock Entertainment Authority in California, James will oversee the operations of multiple gaming facilities, including the Twin Arrows Navajo Casino Resort, Fire Rock Navajo Casino, Northern Edge Navajo Casino, Flowing Water Navajo Casino, and the Navajo Blue Travel Plaza.
