Runaway 7s

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“The priority is to prove the model properly; make sure the games perform and demonstrate that it works commercially.”

The proposition is already being tested commercially. Live casino supplier Eeze has become the first supplier to utilise Studio in a Box as it looks to expand its proprietary content into slots. Using Yggdrasil’s framework also gives Eeze access to its wider distribution network.

The first games are expected towards the end of the year, with the partnership ultimately targeting a release cadence of two games per month. For Curwen, Eeze demonstrates the demand among established gaming businesses for greater ownership of their content strategy without the cost and complexity of creating a conventional development operation.

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Under IGRA, gaming is generally prohibited on land taken into trust after 1988 unless it qualifies under specific exceptions. Scotts Valley claims its Vallejo property falls under the “restored lands” exception for federally recognized tribes.

While Interior agreed that Scotts Valley met requirements regarding its modern ties to the area and the timing of the acquisition, the department ultimately concluded the tribe failed to demonstrate a sufficiently significant historical connection to the land.

In court Friday, DOJ attorney Amber Dutton-Bynum argued that Scotts Valley could not meet the high threshold for irreparable harm required to secure an injunction. She maintained that the tribe knowingly chose to invest in the Preview Casino while its gaming status remained uncertain, as reported by Law360. Dutton-Bynum added that the modular buildings could easily be repurposed for non-gaming commercial uses if the prohibition stands.

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Entain sits somewhere between the two models. It has significant international scale and a valuable stake in BetMGM, but also more debt and greater exposure to UK taxation, as well as general regulatory turbulance across Europe.

The four analysts arrive at much the same broad conclusion, albeit by different routes.

For Birkin, the share-price decline has gone well beyond the deterioration in earnings expectations. Fantini sees the industry’s great growth phase as largely behind it. Beynon’s focus is on what the market can see today: earnings and cash flow, rather than promises of future sportsbook growth. And for Robinson, the weakness is no longer simply a matter of valuation. It is increasingly showing up in the fundamentals themselves.