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- Caesars Entertainment Enters Into Agreement to Be Acquired by Fertitta Entertainment
- Kalshi Sues State of Minnesota
- Texas Tech Odds Go From 11-1 to 25-1 Following Brendan Sorsby News
- 89-Year-Old Accused of Running Illegal Gambling Business Out of Cape Coral Florida
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Gambling News (South Africa)
South Africa Seizes Over R3 Million in Illegal Gambling Winnings
Thursday May 28, 2026 (10:21 am EDT)
South Africa’s National Gambling Board (NGB) has announced that more than R3 million ($183k) in unlawful gambling proceeds have been forfeited to the state following High Court orders. The seizures, carried out between April 2025 and April 2026 is part of an ongoing measure by the regulator to enforce the National Gambling Act and protect the integrity of the country’s gaming industry. Acting CEO Lungile Dukwana said, “The forfeiture of proceeds derived from unlawful gambling activities demonstrates the NGB’s continued commitment to enforcing the NGA and supporting lawful and accountable gambling practices in South Africa.” (source: iGaming Today)
Prediction Markets
Kalshi Sues State of Minnesota
Thursday May 28, 2026 (10:17 am EDT)
Kalshi has sued Minnesota in federal court after the state legislature enacts a prediction market ban against certain types of event contracts, will be seeking a TRO and preliminary injunction to block state from enforcing the new law before it goes into effect on August 1st.
NEW: Kalshi sues Minnesota in federal court after the state legislature enacts a prediction market ban against certain types of event contracts, will be seeking a TRO and preliminary injunction to block state from enforcing the new law before it goes into effect on August 1st. pic.twitter.com/Br56e0fvIi
— Daniel Wallach (@WALLACHLEGAL) May 28, 2026
Gambling News
Caesars Entertainment Enters Into Agreement to Be Acquired by Fertitta Entertainment
Thursday May 28, 2026 (10:14 am EDT)
Caesars Entertainment, Inc. (NASDAQ: CZR) (“Caesars”) announced today that it entered into a definitive agreement to be acquired by Fertitta Entertainment, Inc. (“Fertitta Entertainment”) in an all-cash transaction valued at approximately $17.6 billion, including the assumption of approximately $11.9 billion of Caesars’ outstanding debt. Under the terms of the agreement, Caesars shareholders will receive $31.00 in cash for each outstanding Caesars share. The consideration represents a 49% premium over Caesars’ unaffected share price as of February 25, 2026 (the last trading day before rumors of a potential transaction) and a 46% premium over the unaffected 30-day Volume-Weighted Average Price (“VWAP”) as of the same date. The transaction is subject to the approval of Caesars Entertainment shareholders and the satisfaction of customary closing conditions, including applicable regulatory approvals. In addition, the Carano family, which owns approximately 5% of the outstanding shares of Caesars Entertainment common stock, has agreed to roll a portion of their equity interests into Fertitta Entertainment. Upon completion of the transaction, shares of Caesars Entertainment common stock will no longer be listed on NASDAQ.
Gambling Crime (Cape Coral, Florida)
89-Year-Old Accused of Running Illegal Gambling Business Out of Cape Coral Florida
Thursdayy May 28, 2026 (10:07 am EDT)
James Leslie Graham is charged with using proceeds from racketeering activity, establishing a gambling place, fraud and money laundering over $100,000 in the last 12 months. The 87-year-old was arrested for running an illegal gambling arcade out of Cape Coral, Florida. Florida has seen a major statewide crackdown on illegal “arcades,” fish games, and storefront gambling parlors over the past year, especially in Southwest Florida, which includes Cape Coral. Police there say the machines were calibrated to ensure losses. In Florida, machines must be calibrated to at least 85% or higher for payouts. The machines payouts in the seized machines were found to be as low as 18%.
Gambling News / College Football
Texas Tech Odds Go From 11-1 to 25-1 Following Brendan Sorsby News
Thursdayy May 28, 2026 (10:07 am EDT)
The NCAA has denied Texas Tech quarterback Brendan Sorsby’s request for reinstatement this season, according to a Tuesday report from Pete Thamel of ESPN. Sorsby was previously ruled permanently ineligible by the NCAA following investigations of his gambling activity, which included him betting on Indiana football games while a member of the Hoosiers’ program in 2022. Texas Tech’s odds opened at 14/1 to win the CFP. They went as low at 11/1. They now sit at 25/1.
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- Chris Costigan, Gambling911.com Publisher
