Daily News: Binance faces tough times - Binance CEO Changpeng Zhao and more

The cryptocurrency exchange Binance faces tough times

Binance Under Investigation for $10 Billion Laundering

The cryptocurrency exchange is accused of non-compliance with US federal laws and laundering $10 billion.

Although the investigation has been going on since 2018, however, now Binance's strong position (after the collapse of the FTX exchange) and their control over the industry is under attack.

Among Binance's arguments: criminal prosecution will harm the crypto market which is already being in a protracted recession.

According to some sources, the Binance exchange is ready to admit guilt.

The Australian regulator has launched an investigation into Sportsbet

The operator is suspected of offering sports betting over the phone and thus bypassing the ban on online betting.

Earlier this year, Sportsbet was fined for spamming customers. In addition, the operator is accused of violating AML rules.

Sweden's gambling revenue up 7% in Q3 2022

Sweden's gross gambling revenue in the third quarter of 2022 was SEK 6.77 billion (€614 million). This follows from a report published last Friday by the Swedish Gaming Authority (Spelinspektionen).

According to the content of the document, compared to the same period last year, the growth in income from gambling amounted to 7.2%. Compared to the second quarter of this year, revenue increased by 20 million SEK.

A record 4.31 billion SEK in revenue was generated by online gambling operators, which is 10.5% more than a year earlier. Revenue also increased by 90 million SEK compared to the second quarter of 2022.

1.40 billion SEK were received by the operators of state-owned lotteries and Vegas slot machine halls of the Svenska Spel Tur division, which was 1.2% higher than in the third quarter of 2021 and 2.1% more than in the previous quarter.

804 million SEK of income was generated from charity lotteries.

State-owned land-based casinos operated by the Svenska Spel Casino Cosmopol division generated 149 million SEK in revenue, and 59 million SEK from gambling in casinos located in restaurants.

Evolution shares fell almost 5%

Evolution shares fell almost 5% after the EU introduced a corporate tax at a minimum rate of 15%.

The transition means that the profits of companies with a combined annual turnover of at least €750 million will now be taxed at a minimum rate of 15%.

October was the second most profitable month in the iGaming industry in the US

October was the second most profitable month in the iGaming industry in the US, after March 2022 ($5.35 billion). Collectively, operators received $453.1 million, up 26.8% from October 2021.

iGaming revenue has been at a record high of $4 billion since 2022, up 38.1% year-over-year.

Rating of the largest players in the iGaming market by GGR:
USA - $119 billion,
China - $70 billion,
Japan — $50 billion,
Italy — $20 billion,
United Kingdom - $19 billion.

The new federal German regulator (GGL) will start operating

The new federal German regulator (GGL) will start operating on January 1, 2023. On December 13, the board of gambling transferred powers to GGL.

Previously, separate departments were responsible for federal gambling regulation at the state level.