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How to play RISK: Global Domination 4.6 star
According to Multiples.VC, the average enterprise multiple (EV/EBITDA) of top US-listed gaming companies is currently 10x. Data from New York University last updated in January pegged the overall market average at 23.9x and 19.7x among EBITDA-positive firms, suggesting the sector is undervalued relative to other industries. In a report released Monday, Fitch Ratings said most North American gaming companies hold “Stable” outlooks with “adequate rating headroom” despite consumer headwinds.
Macquarie’s Beynon agrees with that sentiment, pointing to the relative stability of gaming companies through tough economic stretches such as the Covid-19 pandemic. Bankruptcies in the sector have been low relative to the broader market, he notes, and both land-based and digital companies have reason for optimism moving forward.
“It’s certainly not lost on us that this sector has underperformed for several years in a row just because it doesn’t have either the growth of say, tech companies, or the perceived free cash flow-insulated businesses, which we believe it does…We’ve thought there’s been value in the sector for a few years, particularly this year,” he told iGB.
How to play RISK: Global Domination 4.6 star
Kalshi’s compliance department uncovered a series of large trades made by Santos throughout February 2026 involving contracts that would pay out based on whether he attended the State of the Union address on 24 February.
The exchange reported that Santos then issued public statements regarding his attendance, some deemed false or misleading, that were deliberately aimed at influencing the price of “Yes” or “No” contracts connected to his attendance.
Kalshi stated that these statements successfully moved market prices and that Santos realised profits totalling $17,839.57 from the trades. After detecting Santos’ trades, Kalshi froze his account then referred the matter to federal authorities, NPR reported.
About RISK: Global Domination 4.6 star
In January 2024, before locally licensed online operators were active, the Authority said it had recorded about 510,000 monthly cases of Botswanans participating in illegal online gambling.
Sunbet Botswana launched its online sports-betting platform in February 2025 and reported a 4,700% increase in sign-ups during its first month. As this was an operator-reported figure, the company did not publicly disclose the comparison baseline or absolute number of registrations.
The Authority said licensed operators accepted P150 million in wagers in March 2025, paid P135 million in winnings and generated P15 million in gross gambling revenue. It also estimated that only about 40% of Botswana’s estimated 550,000 active bettors were using licensed local operators, leaving a substantial share of demand with unregulated platforms.
