On the latest episode of iGaming Daily, Martyn Elliott, SBC’s Project Director, was joined by Ted Menmuir, SBC’s Content Director, to discuss the latest developments in gambling as the industry winds down for its Christmas festivities.

Earlier this week, Austrac – Australia’s financial watchdog – announced the launch of an investigation against Entain’s Ladbrokes and NEDs brands for “serious and systemic non-compliance” with anti-money laundering and counter-terrorism financing (AML/CTF) laws.

In response, Ted explained, Entain has confirmed that it has acknowledged the investigation and cooperating fully and has moved to implement changes swiftly that are needed in compliance.

He added: “Entain views Australia as a key market and a market which it’s targeting market share growth against market incumbents. It’s a market where it sees a potential for Ladbrokes and NEDs to grow.

“This will be viewed as a setback but I don’t think it’s changing its plans in Australia. It’s a market that it has really pushed forward to investors, saying, we think that we can take a podium there and we think that we can stamp our place here within the top three brands.

“I think it’s a market where it’s going to put a lot of investment in the platform to outperform competitors.”

This latest news follows Enatin upgrading its FY2024 guidance following a stronger-than-expected Q3 performance and the appointment of a new leadership team, led by Group CEO, Gavin Isaacs.

“It’s bad news for Entain concluding 2024, but I think you’ve got to put that perspective to what happened last year when in pretty much the same period, they issued guidance of £900m losses,” said Ted.

“We saw in H2 trading, that Entain does have positive narratives now. It’s returning to growth in the UK and it has a fast-growing presence in Eastern European markets. The big issue surrounding it for me always returns back to BetMGM and what direction they’re going to take on that.

“I think next year, we’re kind of sitting on the sidelines and viewing what is going to be Gavin Isaacs’ big move for Entain.”

Gambling.com secure record OddsJam acquisition

Elsewhere, Gambling.com Group recently entered a “definitive agreement” to acquire Odds Holdings, the parent company of real-time odds information site OddsJam.

Martyn noted that this move comes at a time when affiliates such as XL Media, Catena Media and Better Collective are all struggling in the US market.

On the deal, Ted said: “Gambling.com is making its move, I think that it believes that this is a deal that diversifies its business and gives them a lot more technology capabilities, especially towards targeting sports betting audiences. 

“One of the things that I’ll be looking at for Gambling.com is what they build off the top of the technologies they are bringing in. I think what you’re going to see in 2025, especially in terms of the affiliate field, is that you’re no longer going to be judged on coverage online and dominating SEO keyword searches. 

“I think there’s going to be a much bigger emphasis on what the affiliates can build out of their networks and what second technology they can bring to the market. 

Martyn agreed that affiliates that are moving towards a model of integrating technology and upgrading their product to make it an “entertainment product or research product” are doing things right to seek long-term success.