Welcome to the Weekend Report, where iGB looks at the news that you may have missed across the last few days. This week includes new acquisitions for IG Group and Genius Sports, as well as an illegal gambling den in New York.
IG Group to acquire Independent Reserve
IG Group has struck an agreement to acquire Australia-based cryptocurrency exchange Independent Reserve.
The deal, billed as a bolt-on transaction, has an initial enterprise value of AU$178 million (US$117.3 million). IG Group said it will accelerate its entry into cryptocurrency markets in the Asia Pacific region.
The transaction is subject to regulatory approvals from authorities in Singapore and Australia, with completion expected in early 2026.
“This acquisition marks an important step in our crypto strategy in a key region,” said Matt Macklin, managing director Asia Pacific and Middle East at IG Group. “Independent Reserve is one of Australia’s largest and fastest-growing digital asset exchanges. I am delighted that the Independent Reserve team will join IG as they embark on their next phase of growth.”
Genius Sports snaps up Sports Innovation Lab
Also making an acquisition is Genius Sports, which has purchased sports fan data specialist Sports Innovation Lab.
Financial details of the agreement were not disclosed. However, Genius said it fast-tracks the expansion of its media business, combining official game data with deep fan intelligence.
Genius also said the combination will create the most comprehensive fan database in sports and entertainment. This, Genius added, will track billions of annual transactions, including purchases, attendance and viewership.
“By integrating the most comprehensive official sports data with unmatched fan intelligence, we are strengthening our foundation and providing partners with a powerful new way to understand and engage fans at scale,” Genius CEO Mark Locke said.
Police rescue men kidnapped over casino debt in Vietnam
Police in Vietnam have rescued two Chinese men who were kidnapped after accumulating debts at a luxury casino.
According to VN Express International, the men borrowed hundreds of thousands of yuan to gamble at Hoiana Casino. Wang Xiaoci and Li Yao Zong were named as the two men that gambled at the venue in Quang Nam Province.
After being unable to repay the money, it is alleged a group of men forced them to sign debt papers. They were also said to have been assaulted and given death threats if they did not pay the money back.
Police were alerted to Wang being forced into a car outside the casino. Shortly after, police tracked the car to a nearby apartment complex and carried out a raid. As well as locating both men, police made five arrests at the same location.
FDNY uncovers illegal gambling den in New York
The Fire Department of the City of New York reported it has uncovered an illegal gambling den in Manhattan.
Officers from the FDNY Bureau of Fire Prevention found a gambling parlour with slot machines. Lithium-ion batteries were found charging throughout the illegally converted cellar, which also had storage space filled with counterfeit designer bags and accessories.
“Dangerous and unlawful conditions” were also noted at the location. These included cellar hallways converted into single room occupancies, crowded with mattresses, hot plates and space heaters.
“Illegal living conditions and unsafe battery charging can create deadly conditions for residents and for firefighters responding to emergencies,” FDNY Commissioner Robert Tucker said.
FanDuel secures online market access in West Virginia
Flutter Entertainment-owned FanDuel has secured online market access in West Virginia with Delaware North.
FanDuel will deliver online sports betting and iGaming in the state through Delaware North’s Mardi Gras Casino & Resort.
The operator will also continue to run the sportsbook at the Greenbrier Resort in White Sulphur Springs, West Virginia.
“Delaware North’s been a respected name in gaming and hospitality for decades,” FanDuel Business Development Senior Vice President Jonathan Edson said. “They are an ideal partner as we continue to operate in West Virginia.”
This week, we look at new acquisitions for IG Group and Genius Sports, as well as an illegal gambling den in New York.