Rage

About Rage

The combined company would overtake the likes of Bally’s Intralot, Entain and Allwyn to become the second-largest listed global operator, behind only Flutter Entertainment in terms of combined adjusted EBITDA.

Some 80% of its EBITDA is expected to come from Italy and Spain, with 97% of its total EBITDA coming from markets in which it is the market leader.

Online sports would make up 48% of its adjusted EBITDA, followed by distributed gaming (27%) and casinos (25%).

About Rage

According to CNN Brazil, the government is considering expanding restrictions on betting advertising and banning online casino games. The idea would be to maintain only sports betting.

The decision to use a provisional measure means the restrictions can take effect immediately, less than a month before the elections. This is the clearest indication yet that the sector is being used for electoral purposes to try and secure Lula’s re-election.

The drafting of the text is reportedly in the hands of the Civil House, with some believing that it serves an electoral purpose, meaning Lula potentially riding the wave of criticism against the sector.

How to play Rage

Bally’s Corporation has announced Mira Mircheva is stepping down as the group’s executive vice president and CFO “for personal reasons”.

Mircheva’s resignation will be effective from Friday, although she will remain with the company until the end of September to “ensure a seamless leadership transition”, with the search for her replacement already under way.

George Papanier has taken on Mircheva’s role as CFO on an interim basis. Papanier will continue in his current roles as Bally’s president and a member of its board of directors.