Jacks Or Better

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Entain warned that a sharp rise in MGD could prompt customers to migrate out of the regulated market, estimating that up to £1 billion in gambling stakes could shift to the black market.

The company cited analyses from the Office for Budget Responsibility which suggested previous gambling tax rises had reduced expected tax receipts, including a £500m reduction in forecast receipts for 2029-30. This revenue, writes David, would flow to the black market. 

A new report commissioned by Euromat, and produced by Regulus Partners and Helios, has estimated that Europe’s black market has sustained a compound annual growth rate of 18% between 2019 and 2026, and will be worth up to €13 billion by the end of the year.

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Cleopatra is the latest and most prominent addition to the exhibit, which marks the opening of Caesars Palace on Aug. 5, 1966.

The artifacts also include a 1966 cocktail waitress uniform, a Cleopatra costume and headdresses from opening events, a Tom Jones show program from 1971, Caesars Palace Grand Prix posters, and an old high-stakes slot machine.

The statue now stands, bargeless, mounted on a red-striped pedestal flanked by golden sphinxes.

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What the president didn’t address is the tax revenue from betting.

In 2025, Brazil collected almost BRL10 billion ($1.97 billion) in tax revenue from the licensed sector. In the first seven months of this year alone, BRL8.7 billion generated by the activity was delivered to public coffers. The Federal Revenue Service itself estimates that the sector should reach BRL16 billion in revenue during 2026.

Besides revenue collection, another concern is legal and economic. Companies have paid over BRL2.5 billion for licences since the sector’s regulation. Certainly, the end of the activity would lead to litigation to recover the amounts paid and compensation for investments made. Furthermore, the revenue from betting is already included in the Annual Budget Law and the Budget Guidelines Law, which define the priorities for federal government spending.