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The existence of a new competitor does not automatically mean sportsbook revenue will collapse. But valuations do not require proof of collapse to fall. A loss of confidence in future growth can be enough.
And now sportsbooks are joining the prediction market race themselves. DraftKings has moved into the market, while Flutter is also developing its presence. That could make prediction markets an additional source of revenue rather than a straightforward threat.
But it also requires investment at exactly the time shareholders are demanding better returns. Flutter’s recent results illustrate the tension. US adjusted EBITDA fell sharply in the first half of 2026, while the company continues to invest in FanDuel Predicts and other initiatives aimed at future growth.
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Arbitrators found against the companies and ordered them to pay millions of dollars toward Laos’ legal costs and expenses.
One tribunal found in 2019 that Lao Holdings had acted in bad faith and ordered it to pay Laos $1.95 million. Another made a similar finding against Sanum and awarded the government $1.78 million.
A third arbitration produced another award worth nearly $1.3 million, taking the amount Laos is seeking to more than $5 million.
What is Espada De Camelot?
Since joining the Ministry of Finance in 2024, he has been directly involved in implementing Brazil’s betting regulatory framework. His work has focused particularly on monitoring authorised operators, combatting the illegal market and strengthening controls to prevent money laundering and the financing of terrorism, as well as coordinating enforcement actions with other government agencies and private sector stakeholders.
“Fabio’s appointment brings an important South American perspective to the IAGR board of trustees at a time when regulators worldwide are facing similar transnational challenges,” said IAGR President Ben Haden.
“Brazil has undergone an ambitious regulatory transformation in an extraordinarily short period, and his experience at the heart of this process will provide valuable insights to the regulators within our global community.”
