Cafrino Gaming (Cafrino Inc.), a B2B and B2C gaming provider of legal online poker since 2014, has announced record-setting revenue for 2025, highlighted by a 64% year-over-year increase in Q4 performance. The company enters 2026 with strong operational momentum, new partnerships, and expanded product capabilities.

As U.S. commercial gaming revenue grew approximately 9% in 2025, reflecting healthy consumer demand and expanded legal access, Cafrino has revealed it outpaced broader industry growth through product innovation and strategic expansion into B2B partnerships.

Technology Investment Fuels Revenue Growth

In the first half of 2025, Cafrino prioritized platform technology enhancements, introducing a redesigned player-facing UI, backend performance improvements, and scalable infrastructure upgrades. These enhancements strengthened player retention, increased session activity, and positioned the company for broader B2B deployments.

“In 2024, we made the decision to expand our product offering to existing casino brands. After more than 10 years of providing legal online poker to players around the world, and witnessing the rapid growth of online casinos, we recognized a clear opportunity. Offering our poker technology to other thriving casino operators was the logical next step,” said Mike Murphy, CEO of Cafrino Inc.

B2B Launch and Partner Performance

In Q3 2025, Cafrino officially launched its B2B Online Poker technology in both White Label and API formats. The company’s first B2B client successfully launched in Q4.

Within the first few months post-integration, the partner experienced:

• 131% Revenue Growth

• Decreased CPA (cost per acquisition)

• 41% Player Growth

• Increased Player Activity

• 99.56% Increase in Average Purchase

“With the dramatic growth in new online casinos focused primarily on slots, we believed adding poker would serve as both a key differentiator and a tool to reduce CPA costs while increasing revenue per player. The early performance validated that strategy, and we’re excited about the continued impact,” said John Buckman, Head of Partnerships.

Record-Setting Performance and 2026 Outlook

The combination of product innovation and partnership expansion drove record revenue and player activity throughout 2025, culminating in a 64% year-over-year increase in Q4.

Momentum has continued into 2026, with January already delivering new highs in both revenue and engagement. Cafrino reports multiple new partners currently onboarding, with additional agreements in active discussions.

In addition to expanding its B2B footprint, Cafrino is broadening its White Label Casino offering, with additional casino game integrations scheduled for release later this year.

Building Scalable Infrastructure for Long-Term Growth

“For Cafrino, 2025 represented more than a revenue milestone—it marked a year of foundational expansion,” said Haig Kayserian, Chairman of Cafrino Inc.

He praised CEO Mike Murphy and his team for:

Achieving record monetization metrics,

Enhancing product and platform scalability,

Expanding legal and compliance readiness, and

Strengthening strategic partnership positioning.

With over a decade of operational experience and a newly expanded B2B technology stack, Cafrino enters 2026 positioned for accelerated growth across both consumer and enterprise channels.

Mohegan Tribal Gaming Authority announced operating results for its first fiscal quarter ended December 31, 2025.

First Quarter 2026 and Recent Highlights:

Mohegan Sun generated its highest Q1 net slot win since FY’18.

Mohegan Digital achieved its highest ever quarterly net revenues and Adjusted EBITDA.

Mohegan Digital monthly active users at an all-time high.

Mohegan Digital Adjusted EBITDA increased 44.5% year over year.

“Adjusted EBITDAR of $95.3 million increased 2.4% on flat net revenues. Results were largely driven by Mohegan Digital delivering its strongest quarterly performance to date. Adjusted EBITDA of $86.4 million decreased $3.1 million, as the prior year comparable period benefitted from favorable table hold at Mohegan Sun and a one-time property tax adjustment at Niagara Resorts. After normalizing for these factors, Adjusted EBITDA would have been up $4.8 million, or 5.9%,” said Ari Glazer, Chief Financial Officer of Mohegan.

Prior period amounts have been restated to exclude results of operations of Inspire Integrated Resort Co., Ltd., its parent company MGE Korea Limited, and certain affected subsidiaries, from continuing operations.

Net revenues of $300.0 million decreased $12.0 million compared with the prior-year period. Entertainment revenues declined as a result of fewer arena events in the current period, while the prior-year comparable period benefitted from favorable table hold at Mohegan Sun and $6.6 million of net revenues from Las Vegas operations. Adjusted EBITDA of $64.8 million decreased $9.8 million compared with the prior-year period, factoring in the previously described items.

As of December 31, 2025 and September 30, 2025, Mohegan held cash and cash equivalents of $154.0 million and $128.0 million, respectively. Inclusive of letters of credit which reduce borrowing availability, Mohegan had $146.8 million of borrowing capacity under its senior secured credit facility and line of credit as of December 31, 2025. In addition, inclusive of letters of credit which reduce borrowing availability, Niagara Resorts had $36.5 million of borrowing capacity under its revolving credit and swingline facility as of December 31, 2025.

Detroit’s three commercial casinos reported $103.9 million in aggregate revenue (AGR) for January 2026. Table games and slots generated $103.1 million, while retail sports betting produced $770,319 in qualified adjusted gross receipts (QAGR).

January market shares were:

• MGM, 49%

• MotorCity, 30%

• Hollywood Casino at Greektown, 21%

Table Games and Slot Revenue

January 2026 table games and slot revenue increased 0.8% compared with January 2025 and declined 0.3% from December 2025. For the period Jan. 1-31, revenue was also up 0.8% year-over-year.

Casino-level results compared with January 2025 were:

• MGM: up 0.5% to $50.2 million

• MotorCity: up 1.2% to $31.0 million

• Hollywood Casino at Greektown: up 0.7% to $21.9 million

The casinos paid $8.4 million in state gaming taxes in January, compared with $8.3 million in January 2025. They also reported submitting $12.3 million in wagering taxes and development agreement payments to the City of Detroit.

Retail Sports Betting Revenue

Detroit casinos reported $11.3 million in total retail sports betting handle for January. Total gross receipts were $789,669. QAGR declined 69.5% from January 2025 and 55.2% from December 2025.

January QAGR by casino:

• MGM: $227,918

• MotorCity: $255,937

• Hollywood Casino at Greektown: $286,464

The casinos paid $29,118 in state taxes and submitted $35,589 in wagering taxes to the City of Detroit based on January retail sports betting activity.

Fantasy Contests

For December 2025, fantasy contest operators reported $993,921 in adjusted revenues and paid $83,489 in taxes.

From Jan. 1 through Dec. 31, 2025, operators reported $9.9 million in aggregate fantasy contest adjusted revenues and paid $827,511 in taxes.