2025 in review: What were the biggest global gaming trends?

Kicking off 2026, it is a time for old-year reflections and New Year's resolutions. For the gambling industry, the best way to glean what may be to come in the 12 months ahead is to look back at what dominated the news agenda in 2025.

What were the biggest trends and developments in Europe, the Middle East and Africa, the Americas and Asia-Pacific? And what lasting effects might they have for global gaming this year?

EMEA - Tim Poole reflects on the UK Budget

Every year since I joined this industry, we've had some kind of threat or scare that gambling taxes would dramatically rise in the UK. Every year until now, the industry had survived without any major damage.

Until November 2025.

Indeed, a combination of the political climate and mainstream hostility towards gambling profits resulted in a 40% tax rate for online gambling (from April 2026), and a 25% tax rate for online sports betting (from April 2027).

For that reason alone, 2025 will not be reflected upon fondly by UK operators. Did the Betting & Gaming Council fail to lobby effectively? Did our sector, ever keen to discuss favourable policy and the black-market threat internally at trade shows, underestimate the power of the anti-gambling campaign?

Questions we can more practically address include: where does the industry go from here, and should operators focus more on sports betting (especially until April 2027) as opposed to casino?

The UK had hitherto been seen as the foremost authority on gambling policy: a mature, thriving market that led the way in terms of regulation. 2025 has put paid to that - unceremoniously. With one of the highest current global tax rates, UK gambling now faces the ultimate challenge.

EMEA - Shaan Khan looks back on the biggest M&A from 2025

If 2024 hinted at consolidation, 2025 confirmed it. EMEA became the industry's deal engine, driven less by opportunism and more by necessity. Regulation tightened, capital costs rose, and scale stopped being a luxury and started being survival.

The year's defining theme was lottery groups and global platforms accelerating into digital. Allwyn set the tone.

Its €16bn ($18.82bn) merger with OPAP reshaped the European lottery landscape, while the $1.6bn PrizePicks deal signalled how aggressively traditional operators are chasing next-generation audiences.

The message was clear. Owning the pipes now matters as much as owning the product.

Flutter was equally decisive. Its €2.3bn acquisition of Snaitech, combined with its Brazilian positioning via Betnacional, showed how large operators are prioritising jurisdictional depth over scattered market presence.

Perhaps the most quietly transformative deal came from Intralot, whose €2.7bn acquisition of Bally's Interactive underlined a growing belief that B2B infrastructure, not consumer branding, will define long-term value.

Then there was the story that never quite became a deal... yet. Reports of the bet365 owners exploring a partial or full sale hovered over the industry all year.

No transaction followed, but the speculation alone mattered. When one of the industry's most profitable private companies is weighing an exit, it says plenty about where valuations, succession and regulatory exposure now sit.

In EMEA, 2025 was more about choosing sides rather than the usual flashy growth we're used to. Scale up, specialise or step aside.

EMEA - Claire McKernan assesses the rise and rise of AI

AI didn't just take centre stage in 2025, it hijacked the microphone. And for operators, regulators and players alike, it set the tone for a new era.

2025 saw live casino innovation surge, with AI-driven tools behind the scenes. Ezugi expanded its live dealer offering through a PokerStars partnership while Pragmatic Play launched Money Time, a game-show-style live casino product.

Global Gaming Insider's analysis highlighted how AI is reshaping online casino experiences through hyper-personalised game recommendations, real-time monitoring and tailored promotions, improving engagement while raising questions about player autonomy.

In 2025, AI became central to player protection, with Mindway AI's GameScanner deployed at Crown Resorts to monitor behaviour and prevent harm. Mindway AI also teamed up with ATG to deploy GameScanner in Sweden, to monitor player behaviour.

Europe followed suit with tools like Greece's Gamalyze self-test and Better Collective's Playbook, using AI to identify risks, enforce age limits and promote responsible gambling in real time.

Towards the end of the year, Google Finance integrated Kalshi and Polymarket data, offering users probability tracking and predictive insights. Just before the year ended, Brazil turned to AI to manage its betting-linked sports funding, using algorithms to reconcile billions of inconsistent operator records.

Americas - Kirk Geller reflects on Vegas struggles and sports betting scandals

Despite maintaining its status as the US gaming capital, Las Vegas noticed a sizable dip in tourism over the course of 2025. While figures such as MGM Resorts President and CEO Bill Hornbuckle displayed confidence at G2E, it's difficult to ignore the collective hush which falls over the Strip and Downtown Las Vegas for extended periods.

Many blame the rising amenity costs or illogical prices for food and beverages on the Strip, but it's also possible the allure of Sin City has dissipated over time, especially as gaming continues to expand in regions such as New York, Southern California and Arizona.

Vegas will no doubt find a way, though: it always does. But it is not alone in having questions to ponder. Sports betting has endured scandals in both the MLB and NBA. While cases involving the likes of Terry Rozier, Damon Jones, Emmanuel Clase and Luis Ortiz are still ongoing, a failure to uphold integrity standards has cast a dark cloud over sporting leagues.

While it's unlikely the investigations cause much of a dip in sports betting activity across the US, those who partake could be the ones who ultimately pay for these mistakes. A restriction on prop bets would only serve as a means to place blame on the offerings themselves - rather than the MLB and NBA for failing to adequately withhold its players from manipulating bets for personal gain.

Americas - Rory Calland reviews a breakout year for prediction markets

Not everything fits neatly into the image of finality and rebirth that New Year conjures. The crescendo of prediction-market activity is surely not about to decelerate or change direction. Perhaps it's just the sense of importance that the young ambitious leaders of Kalshi and Polymarket have imparted on their creations, but it feels as though the climax to this story may be one of absolute triumph or cataclysmic disaster.

At the start of 2025, this form of gambling - or not gambling, oh you know what I mean -was a regulatory conundrum of not insignificant, but limited, importance. As recently as the start of summer, it would have been big news to hear that Kalshi had hit a $1bn valuation. It's now worth $11bn and partnered with CNN and CNBC, while Polymarket has begun its phased return to the US, following a 2022 ban.

Prediction markets, their growth ceiling and their legal viability are now existentially important questions facing industry. More and more, they feel destined to be answered by either the permanent overthrow of the US sports betting hierarchy or a dismantling at the Supreme Court. The rush at FanDuel and DraftKings to proffer their equivalent products emphasises the imminence of the first scenario, but the myriad unresolved court cases from 2025 leaves the second reality in the balance.

Americas - Layla Victoria looks back on Brazil's regulated debut

If 2025 was meant to be Brazil's "settling in" year for regulated betting, it turned out to be more of a prolonged coming-of-age ceremony. Awkward pauses, raised voices and all.

The market spent its first legal year trying to answer a deceptively simple question: is betting a fiscal opportunity, a social threat or... both at once?

The CPI enquiry into betting set the tone.

What began as a political response to public outrage quickly morphed into a spectacle, complete with headline-friendly villains, influencer scandals and a decision to indict 16 individuals. That decision was serious enough but its rejection in Congress underlined that, unfortunately, noise does not necessarily translate into policy.

By the end of the year, taxes became the Government's preferred lever as a gradual increase in operator taxation, debates around a 15% levy and even a proposed deposit tax all signalled a clear intent to squeeze more revenue from a sector that had only just learned how to walk.

The message was unmistakable: betting will help fiscal gaps whether the industry liked it or not.

Still, amid uncertainty, one thing became clear: Brazil didn't retreat from regulation but doubled down on it. The first year exposed flaws, contradictions and some political impatience but also confirmed that betting is now a significant part of the country's conversation.

Messy, controversial and occasionally unfair, yes, but very much here to stay.

Americas - Milagros del Priore discusses a tumultuous year for LatAm influencers

2025 was the year Latin America stopped treating gaming influencers as a creative accessory and began seeing them as a structural force.

The turning point came from Brazil, where the fallout from Fortune Tiger-linked promotions sparked congressional scrutiny and discussions on ethics and responsibility. The regional message was clear: visibility now carries liability, occasionally accompanied by a strongly worded PDF.

Argentina gave that narrative a distinct twist. In Buenos Aires City, prosecutors advanced cases against influencers who promoted unlicensed operators. High-profile names such as Wanda Nara and several Big Brother participants faced police intervention but avoided fines by agreeing to publish "reparatory" awareness videos about illegal gambling.

In theory, it was a sanction; in practice, it looked like a co-branded collaboration between justice and the content calendar. Across the industry, one question lingered: if the consequence of rule-breaking is posting a serious awareness video... is that deterrence or just another deliverable?

Meanwhile, the market quietly adjusted. Operators tightened licensing checks and disclosure rules. The creators who prospered were not the loudest, but those who turned compliance into a feature rather than a chore, particularly micro-influencers embedded in local sports ecosystems.

The lesson of 2025? Latin America finally started moving from "post now, ask later" to accountability. The unresolved cliffhanger for 2026 is whether sanctions become truly corrective or simply the newest sub-genre of influencer content.

APAC - Keih Ma reflects on a year of maturity in Macau, and across Asia

In 2025, Macau reached an inflection point. The formal shutdown of all satellite casinos was the year's most talked-about milestone, but the real story was how quietly the transition unfolded. Far from triggering a downturn, gaming revenue barely flinched. Players did not disappear. They simply moved. What did change was the street-level economy in areas where satellite casinos had long acted as footfall engines.

Macau's growth continued, though at a calmer, more realistic pace. The explosive rebound years are clearly over. Instead, 2025 delivered consistency, supported by stable mainland visitation, clearer policy signals and operators focusing on premium mass rather than raw volume. This was not a city chasing numbers. It was a city managing expectations.

Across Asia, a similar mood emerged.

Japan stayed cautious after regulatory setbacks. The Philippines moved to tighten online gambling oversight and compliance. Thailand's attempt to legalise casinos collapsed as the parliamentary bill was formally barred.

Regulators and governments across the region talked less about expansion and more about governance, consumer protection and measured growth.

If there was one takeaway from 2025, it was this: the Asian gaming industry did not lose momentum. It grew up. And Macau, finally comfortable without its satellites, showed that maturity can be a competitive advantage.

APAC - Jack Found on the casino that never was: Thailand's legislative near miss

For a tantalising moment in 2025, Thailand looked ready to become Asia's next great integrated resort story. The logic was neat, the numbers persuasive and the operator interest very real. Billions of baht were already being wagered by Thai players - just not in Thailand. Legalise casinos, the argument went, and you keep the cash, create jobs and supercharge tourism. Simple...

Of course, it wasn't. What followed was a masterclass in how gambling reform lives or dies on politics, not spreadsheets. The Government's vision - tightly controlled casinos tucked inside glossy "entertainment complexes" - steadily became weighed down by contradictions. Casinos were pitched as the economic engine, yet access for locals was so restricted they risked becoming symbolic rather than transformative. Public support never materialised and corruption scandals, coalition infighting and street protests did the rest.

By July, the bill's withdrawal felt less like a shock and more like an inevitability. Thailand didn't so much reject casinos as prove it wasn't ready to agree on what they were for - revenue, regulation or moral compromise.

For the global industry, Thailand's near miss is a reminder that Asia's next big market won't be decided by demand alone. The economic benefits were clear, but the politics simply wouldn't cooperate.

Thailand may yet roll the dice again, but 2025 proved that even the most promising casino markets can bust before the first chip hits the table.

APAC - Will Underwood reflects on baby steps in Australia

There's no such thing as quiet in gaming.

All four corners of the industry saw monumental change in 2025. This, of course, includes one of the farthest reaches of the globe, as Australia's industry took on some notable challenges during the year. 2025 saw steps taken to start tackling the polarisation problem that has long plagued the nation's disjointed landscape. Many in the nation will be hoping that 2026 is the year conversation is converted into action.

While some provincial regulators, such Victoria's VGCCC, outlined key harm prevention initiatives and regulatory reform plans in 2025, others like the Northern Territory Racing and Wagering Commission faced calls for complete overhaul due to a radio silence of inactivity since the early 1990s. On the operator side, Crown finally found solid ground in the form of a profitable FY period, as well as solidifying its new safety strategy by introducing cashless slots in Perth.

Elsewhere, The Star scrambled to steady is struggling ship in a year that culminated with major executive overhaul sparking a recent spike in share price. And, of course, who could ever forget (don't say it... please!) Betr's battle for PointsBet against Mixi.

Financial penalties remained aplenty in Australia through 2025, unsurprisingly centred largely around AML issues. Nevertheless, the nation will surely take steps in the right direction on multiple counts this year. And baby steps are better than no steps at all.

Bonus bet - Megan Elswyth assesses 2025's biggest global gaming drama

They say things come in threes... and it applied to industry spats last year. It started off strong with a public falling out between Penn and HG Vora, with investors accusing Penn of making destructive business decisions. They may have a point: Penn's share price has fallen 89% in the last five years, but if you want the full story, you'll have to check out HG Vora's 116-page manifesto on it.

The summer was occupied with PointsBet's 'will-they-won't-they' triangle between Mixi and Betr. PointsBet also carried HG Vora's flame for heavy reading requirements. Between May and the final acquisition announcement, there were over 100 investor relations releases, bids, updates and reports filed on the operator's website. Ultimately, Mixi proved the 'Betr' option.

Always a fan of circular storytelling, the final drama of the year ended where we began: Penn Entertainment. When Penn announced its partnership with ESPN had dissolved, that was shocking enough. After all, Penn had spent $2bn on the deal, only for it to fall flat. But when ESPN announced it had partnered with rival DraftKings just a few minutes later, the situation painted itself.

What level of drama will 2026 bring?