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Convened by Texas State Senator Bryan Hughes, the hearing in the Senate Committee on State Affairs examined the relationship between federally regulated derivatives markets and state-prohibited gambling. Research from Eilers & Krejcik Gaming in April found that 43% of activity from sports event contracts came from two states, Texas and California. A separate breakout of Texas activity alone is not publicly available.
At Tuesday’s hearing, AGA Vice President Tres York testified before the committee alongside Robert DeNault, head of enforcement and legal counsel at Kalshi. The AGA, one of the nation’s most strident critics of prediction markets, argued that an event contract on the Cowboys to beat the Giants does not differ fundamentally from the same wager placed at a sportsbook.
As with California, sports wagering is illegal in Texas. Greg Abbott, a three-term governor, is up for re-election in November, along with Dan Patrick, his lieutenant governor. Patrick, who vehemently opposes sports betting, also serves as president of the Texas Senate in his current role. Several attempts to legalise sports wagering since the 2018 PASPA decision have been foiled under Patrick’s leadership.
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Mobile content provider live with dynamic regional operator
Mobile-first games developer OneTouch has launched its highly acclaimed gaming suite with Latin American brand Sellatuparley. The LatAm-based operator will introduce its extensive player base to OneTouch’s widely celebrated collection of slots, table and arcade games, including perennial player favourites Forgotten Pharaoh, MVP Hoops and Tiki Terror.
The supplier has gone from strength-to-strength on the continent, having extended its reach through comprehensive commercial partnerships with the likes of Jazz Gaming Solutions.
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Both Richards and Ahlberg state this acquisition doesn’t reflect a turnaround story for 888Africa, with a management team led by industry veteran Christopher Coyne and a footprint in some of the continent’s fastest-growing markets.
“It has real market positions already, including a market-leading position in Mozambique and a growing presence in Angola and Tanzania, so we are buying established local relevance rather than starting from zero,” Richards continues.
“That combination of proven profitability, established market share and continuity of management materially reduces the execution risk you would normally associate with re-entering a consumer-facing business.”