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Ben Robinson, managing partner at Corfai, argues that the American listing achieved what it was supposed to achieve. The problems came afterwards. “The question was which arm of the K-shaped market Flutter would end up on. We have the answer now. Capital is concentrated in a narrow band of technology names and everything else is being marked on earnings.”

A US listing can improve access to capital without making the underlying business more attractive. London has a capital-markets problem. Gambling has an investment problem. The two overlap, but they are not the same thing.

Frank Fantini, founder and publisher emeritus of Eilers-Fantini, thinks the change began before Covid. “There is a tendency to look at the world as pre-Covid and post-Covid,” he says. “But the decline in gaming began earlier than that with the slowdown in new jurisdictions and new projects.”

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The proposed amendments include provisions on beneficial ownership, financial and controlling interests, fit-and-proper-person assessments and know-your-customer requirements. They would also require Authority approval for the acquisition of a direct or indirect financial or controlling interest of 5% or more, unless a lower threshold is prescribed.

The bill would require most licence holders to link gambling machines and devices installed on their premises to the Gambling Authority’s statutory monitoring system. Casino and bingo licence holders would be required to install their own monitoring systems instead.

The bill would increase the maximum sanction for contravening Section 87(1) to a P100,000 fine, imprisonment for up to five years, or both.

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BGaming’s product chief tied the release directly to prior results. Julia Alekseeva, CPO at BGaming, said duel slots have proven to be a hit in the past, with titles like Clash of Gods Power Duel driving strong engagement, so the studio decided to take this further with Johnny vs Chicken. She added that the studio took two of its most recognizable characters and brought them together in what she called the ultimate BGaming IP showdown.

That language, an “IP showdown” between established characters, points to where the strategy could go next. If a duel format plus familiar faces reliably lifts engagement, BGaming has a repeatable template for future crossovers drawn entirely from its own library. Johnny vs Chicken reads less like a finished idea. It reads more like a first test of a shared-universe approach to slot IP.

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