French Watchdog Probing Betting Market Platform Polymarket

Written by:
C Costigan
Published on:
Nov/08/2024

  • Casino operator and member of parliament in online gambling hub of Antigua stabbed to death.
  • French watchdog probing Polymarket.
  • Lawsuit claims casino caused woman's death.
  • ESPN Bet fails to hit 3rd quarter target.

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Gambling News

French Watchdog Probing Betting Market Platform Polymarket

PARIS, Nov 7 (Reuters) - France's gambling regulator said on Thursday it was examining whether Polymarket, the platform where a French trader placed a successful multi-million dollar bet on Donald Trump winning the U.S. presidential election, complies with French laws.

"We are currently examining its operation as well as its compliance with French legislation on gambling," ANJ spokesperson Elsa Trochet-Mace said in an emailed statement.

Polymarket declined to comment.

The offshore crypto-fuelled exchange said last month that a mysterious trader who had placed multiple bets on a Trump victory was a French national.

At the time, Polymarket said it had investigated the individual, who had extensive trading experience and a financial services background. It concluded that the trader was making bets based on "personal views of the election".

It said it had not found any information to suggest that the user manipulated, or attempted to manipulate, the market.

Gambling News

Antigua Casino Operator Slain, Was Also Member of Parliament

Antigua and Barbuda is seeking help from authorities in London to solve the killing of a member of Parliament in the Caribbean island nation who was found stabbed to death this week.

The decision was taken Wednesday by Cabinet members who also announced an official funeral for Asot Michael, 54, a boisterous and often controversial former government minister whose body was discovered at his seaside home in Antigua on Tuesday.

As a former British colony, the twin-island nation still has strong ties to Britain and in the past has requested help from London police in high-profile cases.

Michael was a businessman whose family owns a local casino and retail shops including a shoe store.

Antigua is among the longest serving online gambling licensing hubs.

Gambling News

ESPN Bet Misses Target

Penn Entertainment announced this week that its ESPN Bet brand missed third quarter estimates for revenue. 

Penn Entertainment analysts offered the following assessments:

  • Needham analyst Bernie McTernan reiterated a Buy rating on Penn Entertainment with a $26 price target.
  • Truist analyst Barry Jonas reiterated a Buy rating with a $23 price target.
  • Benchmark analyst Mike Hickey maintained a Hold rating with no price target.

Needham on PENN: ESPN Bet showed improvement in the third quarter, McTernan said in a new investor note.

"The highlight on earnings for us were the strong underlying fundamentals for ESPN Bet in October, with handle growth showing acceleration from September to October," McTernan said.

Gambling News

Lawsuit Accuses Indiana Casino of Causing Woman’s Death By Over-Serving Alcohol

The family of a woman who died in March is suing a southern Indiana casino, claiming casino staff caused her death by over-serving her alcohol.

The lawsuit, filed in the U.S. Court for the Southern District of Indiana on behalf of the estate of Michelle Kelley and her husband Jason Kelley, says that on March 27 and into the next morning Michelle was served at least 17 alcoholic drinks at the Caesars Southern Indiana Hotel & Casino in Elizabeth, Indiana.

The plaintiffs say unknown servers at the casino continued to serve Michelle Kelley alcoholic beverages despite her being visibly intoxicated and that she died at the casino on March 28.

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Entain Appoints Dafne Guisard as COO

Entain plc, the global sports betting and gaming group, is pleased to announce that Dafne Guisard has been appointed to the new role of Chief Operations Officer, effective from 13 January 2025.

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