China delivered its best-ever performance at the 2024 Paris Olympics, tying with the United States for the most gold medals. Both nations secured 40 golds, marking the first time the gold medal count has been tied at a Summer Olympics. Despite this achievement, the U.S. edged China in the overall medal tally, amassing 126 medals to China’s 91.  

China’s dominance in events such as shooting and diving initially placed it ahead of the United States. Still, the American team caught up during the track and field events, ultimately surpassing China in total medals. The Chinese media and public celebrated this extraordinary performance, viewing it as a testament to the nation's growing strength and modernization.  

Japan also had a remarkable run in Paris, winning 20 gold medals — the most it has ever secured at an Olympics outside its home country. This achievement topped Japan’s previous overseas record of 16 gold medals in Athens 2004 and marked the nation’s second-highest gold medal haul overall, following the 27 golds won at the Tokyo 2021 Games.  

Japan’s success was highlighted by standout performances in wrestling and other key sports. Kotaro Kiyooka’s victory in the men’s 65-kilogram freestyle wrestling and Yuka Kagami’s gold in the women’s 76-kilogram freestyle were among the highlights of Japan’s campaign, which saw the country earn a total of 45 medals.  

South Korea surprised many by securing 32 medals, including 13 golds. This was the first time in 12 years that the country exceeded 30 medals in a single Olympics. The team's success was driven by strong performances in shooting, fencing, and archery.  

Notably, South Korean archers claimed gold in all five archery events, and Kim Woo-jin became the most decorated South Korean Olympian with five career golds. The success of young athletes, including 16-year-old shooter Ban Hyo-jin, who won Korea’s 100th Summer Olympic gold medal, was a key factor in the nation’s impressive showing.  

In Southeast Asia, the Philippines stood out again, earning the distinction of the best-performing nation in the region for the second consecutive Olympics. The Philippines secured two gold and two bronze medals, with artistic gymnast Carlos Yulo claiming both golds in the floor exercise and vault. Boxers Nesthy Petecio and Aira Villegas added bronze medals, helping the Philippines match its four-medal haul from the Tokyo 2021 Games.  

This marks the first time the Philippines has won multiple gold medals in back-to-back Olympics, further solidifying its position as a rising power in Southeast Asian sports. Despite strong performances from neighboring countries like Indonesia and Thailand, the Philippines maintained its lead, showcasing its growing prowess on the international stage. 

Flutter Entertainment is to make a significant investment in Brazil’s expanding gaming market. The company is in talks to acquire Betnacional, one of Brazil’s largest gambling operators, in a deal estimated to be worth ￡1 billion.

Betnacional, currently the fifth-largest gambling operator in Brazil, is owned by the British-based NSX Group and was established in August 2021. Despite its relatively recent entry into the market, Betnacional has managed to secure a market share of approximately 7.3 percent.. This places it behind market leader Betano, which holds a commanding 25.1 percent share, and Bet365 and Entain, which hold 16.3 percent and 9.4 percent respectively.

Betnacional’s strength lies in its robust gaming business, with a particular emphasis on casino gambling and poker. However, the company has recently shifted its focus towards sports betting, targeting Brazil’s passionate football fan base. This move coincides with the upcoming regulation of betting in Brazil, set to go live on 1 January.

Flutter’s interest in Betnacional is seen as a move to expand its global footprint and take advantage of the impending regulation of betting in Brazil. The company, which owns FanDuel, the leading American operator, recently relocated its primary stock market listing from London to Wall Street, reflecting its growing focus on the American market.

Peter Jackson, Flutter’s CEO, has highlighted the potential of the Brazilian market and the company’s strong balance sheet, which provides the flexibility to pursue deals or return cash to shareholders. Analysts, have expressed optimism about Flutter’s potential in Brazil, anticipating that the company could drive significant cost and revenue synergies from the deal.

In addition to its potential acquisition of Betnacional, Flutter is also rumoured to be considering a partnership with Boyd Gaming in a potential $9 billion bid for Penn Entertainment, an American rival. This comes amid criticism from an activist investor over Penn’s interactive strategy.

As Flutter prepares to release its second-quarter financial results, its shares were up $1.35, or 0.7 percent, at $189.65 in early afternoon trading in New York. The company’s diverse portfolio of online sports betting and iGaming brands, including FanDuel, Sky Betting & Gaming, Sportsbet, PokerStars, and Paddy Power, positions it well to capitalize on new market opportunities.

The acquisition of Betnacional represents a significant step in Flutter’s strategic expansion and underscores the company’s commitment to investing in promising markets. As regulated betting goes live in Brazil, the deal could provide Flutter with a strong platform to establish a dominant position in one of the world’s most passionate sporting nations.

Flutter's shares are up $1.35, 0.7 per cent, at $189.65 in early afternoon trading in New York.

SiGMA East Europe Summit powered by Soft2Bet, happening in Budapest from 2 – 4 September

Imagine Live has announced its partnership with Betlive, marking its entry into the developing Georgian market. This collaboration aims to enhance the live gaming experience for Georgian players, introducing them to a world of interactive and immersive gaming.

Georgia, located at the crossroads of Western Asia and Eastern Europe, has seen a significant increase in its gambling industry in recent years.?Despite strict regulations and reforms, the sector has managed to achieve impressive growth. The partnership between Imagine Live and Betlive is set to further invigorate this dynamic market.

The partnership is tailored to cater specifically to Betlive’s clientele. The studio will feature two blackjack tables and one roulette table, all equipped with Imagine Live’s interactive features.

These features have been customised to align with local preferences, ensuring a gaming experience that resonates with the unique tastes of the Georgian user base

Hakob Manukyan, CEO of Imagine Live Armenia, expressed his excitement about the partnership, stating, “This is a significant milestone for Imagine Live as we bring our GLI-certified high-quality live gaming experiences to the Georgian market. Together, we aim to set new standards for dedicated live dealer casinos in the iGaming industry and help partners provide an unforgettable and premium gaming experience to their players.”

Gega Topuridze, Chief Revenue and Product Officer at Betlive, agreed with Manukyan and added, “Our collaboration with Imagine Live is a strategic move that brings cutting-edge live gaming technology directly to our Georgian audience. The introduction of Imagine Live’s blackjack and roulette tables, designed specifically for our players, marks a new level of gaming excellence.”

As part of its expansion efforts, Imagine Live also recently secured a gambling license from the Swedish Gambling Authority, allowing it to offer its gaming portfolio in Sweden. This move signifies Imagine Live’s commitment to broadening its reach and delivering its innovative gaming solutions to a global audience.

Flutter Entertainment has reported a surge in profits and user numbers for the second quarter, marking its first earnings release since relocating its primary stock market listing and operational headquarters to the United States.

The betting giant announced that its net profit for the second quarter had more than quadrupled to $297 million (€270 million), compared to the same period last year. Additionally, the Average Monthly Players (AMPs), a crucial metric in the gambling industry, saw a 17 percent increase. The company’s revenue also experienced a 20 percent boost, reaching $3.6 billion, while its adjusted EBITDA rose by 17 percent to $738 million.

Flutter’s CEO, Peter Jackson, expressed confidence in the company’s performance, stating that the strong quarter results have bolstered their plans to continue driving customer acquisition, with an optimistic outlook for 2025 and beyond. This positive news led to a 12 percent jump in Flutter’s shares in after-hours trading in New York.

The impressive results underscore Flutter’s strategic decision to shift its base from Ireland to the US. The company, which owns the American giant FanDuel, reported approximately $1.5 billion in revenue from its US businesses during the quarter, a 27 percent increase in AMPs compared to the previous year. Flutter is banking on this upward trend to continue as more US states legalize gambling.

Following the strong performance in the second quarter, Flutter has revised its full-year guidance for US revenue to between $6.05 billion and $6.35 billion, and adjusted EBITDA to between $680 million and $800 million. For its non-US business, the company anticipates revenue to be between $7.85 billion and $8.15 billion, with adjusted EBITDA projected at $1.69 billion to $1.85 billion.

In the UK and Ireland, Flutter reported an 18 percent growth in revenue, driven by a 12 percent increase in sports betting and a 25 percent rise in its online gaming business. The company attributed the growth in sportsbook revenue to the Euros, which accounted for 10 percent of sportsbook stakes in the quarter, and an overall increase in sportsbook net revenue margin to 14 percent.

The company noted that the increase in margins was driven by the expansion of its structural revenue margin, as more punters opted for the same game parlay wager, allowing gamblers to place multiple bets tied to one game. Sports results were also more favourable than the previous year, particularly during the Euros, accounting for nearly half of the in-quarter results benefit.

The pending acquisition of Betnacional represents a significant step in Flutter’s strategic expansion and underscores the company’s commitment to investing in promising markets. As regulated betting goes live in Brazil, the deal could provide Flutter with a strong platform to establish a dominant position in one of the world’s most passionate sporting nations.

Flutter’s shares are up $1.35, 0.7 per cent, at $189.65 in early afternoon trading in New York.

SiGMA East Europe Summit powered by Soft2Bet, happening in Budapest from 2 – 4 September