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The company is placing an increased focus on efficiency and margins, with plans for a “lower-cost, more centralised operating model” with the profitability of Sun International’s underperforming assets in mind.

A formal consultation process relating to Section 189A of South Africa’s Labour Relations Act has commenced. THis governs large-scale retrenchments by companies with over 50 employees.

“In addition, we have started consultations in certain head office functions as we roll out productivity initiatives across the group,” Sun International said.

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A quarter of respondents said they use both prediction markets and sportsbooks depending on the event they’re considering wagering on. While the 35% reduced use figure may sound like a warning shot to gaming companies, a variety of other studies and surveys indicate that when bettors can choose between a sportsbook and an all-or-nothing exchange, they frequently opt for the former.

While sports event contracts are currently the tentpole category for the prediction market industry, data indicate bettors and traders are embracing other categories.

Fullstory points out that while 62% of consumers have dabbled in sports event contracts, 42% traded economic or financial derivatives on a prediction market while a comparable percentage transacted in an election or political event contract. More than a quarter traded at least one entertainment or pop culture derivative.

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Wiesbaden’s higher slot machine tax will stay in force after the Hessian Higher Administrative Court in Kassel upheld the city’s move to raise the rate from 5% to 7.5% from 1 January 2024. 

According to the court’s statement, the judges rejected challenges from gaming hall operators and said the city’s public decision was legally sound. 

The ruling preserved a revenue measure the city says was designed to bring in up to €1 million according to the court’s own summary.