Cloud Princess

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The deal is expected to provide around €115 million of pre-tax cash synergies per year from opex and interest cost savings. These synergies are expected to be realised by the third full year following completion.

Angelozzi is set to serve as the combined company’s chairman and CEO, while Lottomatica’s deputy CEO and CFO Laurence Van Lancker will assume the same role.

Hostench and Cirsa CFO Antonio Grau will also continue to lead the teams at Cirsa.

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“This partnership represents exactly the type of opportunity Indian Country should be pursuing, where Tribes are owners, innovators and leaders, not just participants,” he said. “For generations, the Tunica-Biloxi people have adapted, traded and built relationships that allowed our Nation to prosper. This initiative carries that tradition into the modern economy.”

Lane Kiffin will face Ole Miss, his former team, for the first time since he was named LSU head coach last November. For Kiffin’s return to Oxford, the Tigers are 59% favourites at Kalshi.

The announcement came on the same week that Indian Gaming Association leaders met with CFTC Chair Michael Selig. The meetings centred on prediction market-related discussions that IGA Chair David Bean deemed mostly unproductive. On Wednesday, the US Court of Appeals for the Ninth Circuit reversed a lower court’s decision in Blue Lake Rancheria vs Kalshi.

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The $10 trillion forecast also implies significant growth in just five years from what previously stood as some of the most optimistic 2030 projections. In April, Bernstein estimated prediction market volume will ascend to $1 trillion by 2030 while Bank of America said prediction markets will eventually grow to $1.1 trillion in yearly turnover. A July report from Macquarie analyst Chad Beynon included a $1.5 trillion annual volume forecast by 2030.

If Bernstein’s $10 trillion prediction market turnover forecast is realized or exceeded, it’d likely prove significant in revenue terms because the research firm previously estimated that $1 trillion in yearly activity could generate as much as $10.8 billion in revenue for operators.

As has been widely documented, sports event contracts are currently the lifeblood of the prediction market industry, but Bernstein notes that won’t be the case on a permanent basis. In fact, the research firm estimates that sports derivatives’ share of industry volume will decline to 35% in 2035, indicating that the aforementioned volume increase will be led by other categories.