iGaming Weekly Recap (October 20–26, 2025): Another Gambling Scandal Rocks NBA

Portland Trail Blazers head coach Chauncey Billups, a former NBA star and Hall of Famer, was arrested on Thursday, October 23, 2025, in connection with a federal investigation into illegal gambling. The arrest in Portland ties to allegations of an illegal poker operation linked to the Mafia; it’s noted that this case is separate from any accusations related to betting on games he coached.

Billups was one of two prominent NBA figures arrested that morning, alongside Miami Heat guard Terry Rozier, detained in Florida. Rozier’s case is tied to an investigation into illegal sports betting, where he’s one of six individuals charged with using insider information for unlawful bets. Both arrests are linked to two distinct illegal gambling cases involving numerous individuals, including associates of organized crime groups, with the investigations led by federal authorities, including the FBI and the U.S. Attorney’s Office for the Eastern District of New York.

The Missouri Gaming Commission (MGC) issued nine temporary mobile sports betting licenses, paving the way for the state’s market launch on December 1. The latest batch included seven new licenses for BetMGM, bet365, Caesars, ESPN BET, FanDuel, Fanatics, and Underdog, joining DraftKings and Circa, which secured their “untethered” licenses earlier this year.

Additionally, the MGC granted temporary licenses to key technology and integrity service providers, including Gaming Laboratories International (GLI), GeoComply, Integrity Compliance 360 (IC 360), Genius Sports, Kambi, BMM Testlabs, and the International Betting Integrity Association, aiming to create a secure and compliant market ecosystem.

Evolution AB reported a decline in key financial metrics for Q3 2025, largely due to operational instability and challenges in Asia. Net revenue fell 2.4% year-over-year to €507.1 million, and adjusted EBITDA dropped 5.3% to €336.9 million, though the EBITDA margin of 66.4% remained within the target range of 66% to 68%. Asia revenue declined 6.5% year-over-year, attributed to ongoing cybercrime issues and regulatory instability, particularly in the Philippines and India.

In contrast, North America revenue rose 14.5% year-over-year, and Latam grew 6.4%, with regulated markets accounting for 46% of total revenue. Additionally, RNG (slots) revenue grew 4.1%, outpacing Live Casino growth for the first time. The company pressed forward with an aggressive expansion plan, targeting over 110 new games in 2025, relaunching Ezugi as a second Live Casino brand in the U.S., and opening new studios in São Paulo and the Philippines. Evolution also secured a legal victory in September when a long-running U.S. class-action lawsuit was dismissed, with CEO Martin Carlesund revealing that rival Playtech paid Black Cube for a “defamatory and false” report against Evolution.

Crypto.com (operating as CDNA) suspended its sports event contracts in Nevada, agreeing to halt the service pending resolution of its legal dispute with state regulators. The decision followed a cease-and-desist order from the Nevada Gaming Control Board (NGCB), which classified these contracts as gambling subject to state law.

The core of the legal battle was CDNA’s claim that its products should be federally regulated by the Commodity Futures Trading Commission (CFTC) as “swaps” under the Commodity Exchange Act (CEA), preempting state gaming laws. However, U.S. District Judge Andrew Gordon rejected CDNA’s motion for a preliminary injunction on October 14, 2025. The suspension alleviates immediate regulatory concerns while Crypto.com continues its legal fight, planning to appeal to the Ninth Circuit Court of Appeals.

DraftKings reached an agreement to acquire prediction market platform Railbird for up to $250 million, comprising a $50 million upfront payment and up to $200 million in performance-based earnouts. This strategic move responds to growing market pressure from competitors like Kalshi (which introduced a parlay-like product) and FanDuel.