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Sports Betting and I-Gaming Leaders: Penn National Gaming, FansUnite, Rush Street Interactive, and Genius Sports positioned for Explosive Revenue Growth

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Wall Street Reporter, the trusted name in financial news since 1843, has published reports on the latest comments and insights from leaders at: Penn National Gaming (NASDAQ: PENN), FansUnite (OTC: FUNFF) (CSE: FANS), Rush Street Interactive (NYSE: RSI) and Genius Sports Limited (NYSE: GENI). Wall Street Reporter highlights the latest comments from industry thought leaders in the esports, digital entertainment, and gaming markets:

FansUnite “Positioned for Exponential Revenue Growth in iGaming, E-Sports, Online Sports Betting”

In his latest presentation at Wall Street Reporter’s NEXT SUPER STOCK livestream, FansUnite (OTC: FUNFF) (CSE: FANS) CEO Scott Burton shared the global i-gaming company’s latest progress and milestones in the multi-billion dollar i-gaming, and sports betting market. FUNFF was recently granted a UK gaming license, enabling the Company to serve as a Business-to-Business technology provider and Business-to-Consumer operator in the $20 billion+ UK online gambling market, which is one of the world’s largest online betting markets. FUNFF is also positioned to play a foundational role in Canadian sports betting as that market opens.

FUNFF has developed a one of a kind i-gaming platform, with a sports and esports focus geared for the next generation of online bettors and casino players. The platform includes products for pre-match betting, in-play betting, daily fantasy, content and a certified RNG to produce casino style chance games. Scott Burton shared that the RNG games are expected to be a major source of revenue, thanks to a distribution deal with a major online casino games aggregator which can license the games to thousands of online casinos – setting the stage for exponential revenue growth opportunities.

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FUNFF recently appointed i-Gaming industry veteran Mike Lee, as VP of gaming to lead the development and growth of FUNFF casino operations, launching new i-Gaming products and expanding global distribution. Mike Lee was the CEO of Genesis Gaming, a prominent gaming provider, where he oversaw the company’s global business operations, leading the development of Genesis Gaming’s game delivery platform and overseeing an extensive portfolio of more than 100 gaming titles. Burton also shared that FUNFF, with a recently closed C$24.7 capital raise, is well positioned to take advantage of potential M&A opportunities in the online gaming industry in the coming months.

Penn National Gaming CEO, Jay Snowden: ”Creating North America’s Leading Digital Sports Content Gaming and Technology Company”

“…We’re preparing to launch the Barstool Sportsbook app in four or five more states by the start of NFL season next month. And by the end of this calendar year, we expect to be live in at least 10 states, while also introducing several new features to the app, such as same-game parlay and shareable bet slip, which we’re really excited about…With greater operating scale and leverage, improved products and unique value-creating marketing strategies, we believe we are extremely well positioned for a strong fall, as we roll into Barstool Sports’ favorite time of the year, football season, which provides a nice segue to our pending acquisition of theScore, which is the number one sports app and sports media name in Canada and the third most popular sports app and sports media name in North America.”

“When we add theScore’s unique integrated media and betting platform and modern state-of-the-art technology to the massive audience of Barstool Sports and its wildly popular personalities and content, we’ll be creating North America’s leading digital sports content gaming and technology company…We are uniquely positioned to seamlessly serve our customers with the most powerful ecosystem of sports, gaming and media in North America, ultimately creating a community that does not exist today…This transaction will allow us to provide state-of-the-art mobile sports betting and iCasino with highly customized bets and enhanced in-game wagering opportunities along with highly engaging personalized sports and media content and real-time scores stats and videos.

“…We believe this powerful new flywheel will result in best-in-class engagement, retention and loyalty and this larger cross-promotion ecosystem will provide us with multiple growth channels that transcend our current business verticals. In the near-term, we’ll just be scratching the surface of where we can ultimately take this company. The transaction also provides us with a path to full control of our own tech stack with a deep pool of engineering talent…”

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Rush Street Interactive Richard Schwartz, CEO: ”Momentum Building for Sports Betting and Online Casino Games”
“…Revenue was $122.8 million during the quarter, representing a year-over-year increase of 89%. Not only did we grow casino revenue sequentially during the period, but also sportsbook revenues despite a lighter sports calendar. With this continued success and growth in our business, we are once again raising our guidance. We now expect our 2021 full-year guidance to be between $455 million and $495 million implying 72% year-over-year top-line growth at the midpoint.”

“We have continued to make significant progress in our market access initiative… We have been selected by the Connecticut Lottery to be a sports betting partner, making RSI one of only three sportsbook operators who will be authorized to operate in the state…New York has recently accepted bids… We formally submitted our bid as part of the process. We are excited about the opportunity to offer our online sportsbook in the state of New York…We have no shortage of near-term opportunities and expected state launches coming over the next couple of quarters. And our business development team is hard at work to continue the strong momentum to secure partnerships in many new jurisdictions.”

“We also continue to be very encouraged by the legislative momentum for online sports betting and the addition of online casinos in many states which already have approved sports betting. It has become very clear we are looking at the numbers in New Jersey, Pennsylvania and Michigan that online casino is a greater generator of cash revenue, and many state legislators are recognizing this opportunity.”

Genius Sports Limited (NYSE: GENI) Mark Locke, CEO: ”At the Heart of sports, betting and media Ecosystem”

“…Genius is uniquely positioned at the heart of the sports ecosystem that connects sports, betting and media. Over our long history, we built a proprietary technology platform that our partners depend on to streamline data collection and distribution, engage audiences and ultimately monetize sports fans. By partnering with hundreds of sports leagues and federations, sportsbook operators and media brands across the globe, we are well positioned to capitalize on the growth in the sports betting market. While our fast growing sports betting market presents the best opportunity to monetize sports fans today, our vision stems far beyond the boundaries of sports betting alone. We are focused on building a tech platform that enables our partners to monetize their audience in a multitude of ways tomorrow, whether through betting, ticketing, merchandising or others…”

“The business model we have in place allows us to participate in the upside of the US market. As the US markets revenues from gaming grow, our revenue also grows, regardless of which B2C player wins share. We’re currently permitted to supply – in 13 US states and three tribal jurisdictions and have a proactive US license strategy, ensuring that there is no market in the US where we will not be able to operate…We are revising our full year 2021 revenue guidance to a range of $250 million to $260 million, up roughly 30% to 35% from where we guided the market to previously…”

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Bragg Gaming

Bragg Confirms Cyber Attack – Hackers Access Internal IT Systems

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Bragg Gaming Group, a leading online gaming technology provider, has confirmed a major cybersecurity incident that compromised its internal IT infrastructure in the early hours of Saturday, August 16, 2025.

The company detected unauthorized intrusion attempts that successfully breached its internal network, triggering an immediate and comprehensive incident response.

Key Takeaways

  • Bragg Gaming Group experienced a cybersecurity breach involving access to internal IT systems.

  • No customer personal data or payment information appears to have been compromised.

  • The company has enacted full containment and investigation protocols.

Details of the Breach

According to a preliminary forensic analysis by Bragg’s internal security team, the attack was a targeted breach aimed at the company’s internal computer environment. While the exact method of intrusion is still under investigation, early indicators suggest a sophisticated exploit of internal network vulnerabilities.

Fortunately, the company’s customer-facing systems, including sensitive user data and financial information, appear to have been unaffected. Bragg’s existing encryption protocols and access control systems successfully prevented the attackers from accessing customer information.

Immediate Response Measures

In response to the breach, Bragg launched a multi-tiered containment strategy, including:

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  • Network Segmentation to isolate affected systems

  • Enhanced Monitoring of data flows across its Remote Games Server (RGS) platform

  • Security Audits of critical infrastructure, including the Bragg Hub and PAM systems

  • Engagement of Independent Cybersecurity Experts to assist in incident analysis and system hardening

Bragg’s Security Operations Center has also elevated its alert level, initiating 24/7 monitoring across all server clusters and network endpoints. In addition, company-wide penetration testing is now underway to proactively identify any residual vulnerabilities.

Business Continuity Maintained

Despite the severity of the breach, Bragg reports that its operations remain unaffected. All gaming services, including iCasino and sportsbook offerings across regulated markets, continue to function without disruption.

“While this incident is deeply concerning, we are confident in the rapid and thorough response initiated by our team,” a company spokesperson stated. “We remain committed to protecting our infrastructure, our partners, and most importantly, our players.”

Looking Ahead

As part of its response, Bragg has also launched mandatory security awareness training for all employees to reinforce best practices and prevent future incidents.

Cybersecurity analysts will continue working with Bragg to determine the full scope of the attack, improve system resilience, and maintain the trust of its users and stakeholders.

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Bragg’s handling of the incident highlights both the evolving nature of cybersecurity threats and the importance of robust, responsive defense systems in the digital gaming sector.

Source: cybersecuritynews.com

The post Bragg Confirms Cyber Attack – Hackers Access Internal IT Systems appeared first on Gaming and Gambling Industry in the Americas.

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AGCO

AGCO Removes Cap on Seller Commission for Charitable Lottery Products

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The Alcohol and Gaming Commission of Ontario (AGCO) has updated several lottery policies to remove the cap on seller commission for Paper Raffles and Media Bingo, along with removing the prohibition on Catch the Ace paper lotteries, to align with other charitable lottery products.

Licensed charities may now negotiate commissions directly with sellers and determine commissions, provided they are reasonable and tied to the cost of service provided by the seller.

These updates further the AGCO’s commitment to adopt an outcomes-based regulatory approach and reduce burden for the charitable gaming sector. Local charitable organizations will have greater flexibility to make decisions that best serve their fundraising objectives.

Important Reminders

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• Charities must still receive approval for other expenses incurred under their licence and retain receipts for seller commission paid.

• Licensing authorities will not require documentation to be submitted as part of the application process, however, charities are still subject to audit to determine compliance.

• Charities are reminded of their legal requirement to meet their obligations under the Criminal Code and with respect to conducting and managing a charitable gaming scheme.

• As with all licensed charitable lottery events, charities must take the necessary steps to ensure that they are conducting and managing the lottery event within Ontario.

For charitable gaming-related inquiries, email an AGCO Eligibility Officer at [email protected] or call AGCO Customer Service at 1-800-522-2876, Monday to Friday from 8:30 a.m. to 5 p.m.

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Alon Segev

Segev LLP Celebrates 10 Years of Business-Focused Legal Innovation

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Leading business, technology, finance, and gaming law firm, Segev LLP, is proud to announce its 10th anniversary. Over the past decade, Segev has evolved from a bold idea into a multi-jurisdictional firm serving clients across Canada, the U.S., and beyond.

Built for innovation-driven industries, the firm is widely recognized for its work with companies at the forefront of gaming, crypto, technology, and emerging sectors. “Our 10-year anniversary is a defining moment,” said Founding Partner, Ron Segev. “It’s a testament to the strength of our team and our culture of teamwork, self-improvement, and growthall of which is directed at scoring wins for our great clients.”

As industries like fintech, crypto, iGaming, and AI have matured, so has the firm, often in parallel with its clients. “We’ve all grown together with our clients from one success to the next, whether it be helping clients complete financings or helping them close business,” said Managing Partner Alon Segev. “I look forward to continued growth for us and our clients in the next 10 years!”

The firm’s client-first approach has consistently earned recognition from top legal ranking guides. Segev LLP is ranked by Chambers and Partners as a “Leading Firm” and “Band-1” in Canada for Gaming Law and are also recommended by The Legal 500 and Lexology. These rankings reflect the team’s ability to deliver strategic, high-quality legal solutions that align with their clients’ business goals.

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Recognized for their unique ability to exceed expectations and deliver out-of-the-box solutions, Segev LLP’s clients have affirmed: “The firm demonstrates its capability not only to understand complex matters, but also to offer solutions that are practical, pragmatic, and value-adding.”

“Segev possesses outstanding resources and maintains global partnerships, enabling it to deliver precise and informed responses to any queries related to the iGaming industry.”

“Epic service, very good, I won the case!”

“Great service, friendly atmosphere, and support.”

Several Segev team members also reflected on the milestone: “There was a moment early in my time here when I realized I wasn’t just being brought in to help; I was expected to contribute, take initiative, and run with big ideas. That stuck with me,” said Negin Alavi.

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“Together with our clients, [Segev] has experienced remarkable growth over the past decade. I’m honored to have contributed to this journey and to celebrate these shared successes,” said David McHugh.

Segev has cultivated a thriving law practice on the principle that challenges are to be embraced as opportunities. The approach has enabled us to grow as lawyers, but more importantly, it has enabled us to ensure the success of our clients,” said Mark Balestra.

“Since joining through Segev’s Ontario expansion, I’ve had the chance to work alongside some of the sharpest and most collaborative lawyers in the gaming space,” added Manav Bhargava. “As a full-service firm and industry leader, Segev stands out for its ability to support innovative businesses with practical, forward-thinking legal advice.”

Segev LLP will commemorate the anniversary with a series of internal and external initiatives throughout the remainder of the year.

The post Segev LLP Celebrates 10 Years of Business-Focused Legal Innovation appeared first on Gaming and Gambling Industry in the Americas.

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