REGULATORY NEWS. WEEK № 43
🇲🇷 Mauritania Moves to Introduce a Clearer Ban on Online Gambling and Electronic Betting
Mauritanian authorities are reviewing gambling legislation with the aim of explicitly extending existing restrictions to online betting and other digital forms of gambling. Current regulations already restrict gambling activities, but the legal framework does not clearly cover websites, mobile applications, and electronic platforms. The proposed legislation is therefore intended to close this legal loophole and establish clearer rules for the digital gambling sector. Read more
🇦🇷 Buenos Aires Province Proposes a Complete Ban on Online Gambling Following Brazil’s Example
Buenos Aires provincial senator Federico Fagioli has introduced a bill seeking to abolish the existing licensed online gambling system and prohibit most forms of online betting and casino gaming. The proposed restrictions would cover online slots, roulette, blackjack, poker, and other real-money games, while exceptions would remain for traditional lotteries, quiniela, and certain authorized prize draws. Licensed operators would be required to stop accepting new deposits and bets, refund customers’ remaining balances, and cease all online gambling advertising, bonuses, and sponsorship activities. The proposal has been informally dubbed the “Lula Law” in reference to a recent ban in Brazil. At the same time, an alternative bill is being considered in the province, proposing significantly stricter market regulation rather than a complete ban. Read more
🇹🇹 Trinidad and Tobago Raises the Minimum Gambling Age from 18 to 25
The Senate of Trinidad and Tobago has approved an increase in the minimum legal gambling age from 18 to 25. The new age requirement is expected to take effect in early 2027, following the completion of the legislative process. The change coincides with the country’s preparations to introduce a licensing framework for remote gambling, which authorities aim to have fully operational by January 1, 2027. Read more
🇻🇳 Vietnam Introduces Fines of Up to VND 150 Million for Anonymous and Fake Betting Accounts
The Vietnamese government has tightened penalties for the use of anonymous accounts or accounts registered under false identities when created for organizing or conducting betting activities. The maximum administrative fine is VND 150 million, equivalent to approximately $5,800. The measure is part of a broader effort to strengthen oversight of digital channels used for illegal betting activities and related payment transactions. Read more
REGULATORY NEWS. WEEK № 42
🇫🇷 France Expands Oversight of Online Gambling Advertising
French regulators ANJ and ARPP have expanded their cooperation on gambling advertising oversight. Licensed operators must continue submitting annual promotional strategies and campaign plans for review, while the updated framework will also cover JONUM projects involving blockchain, NFTs and crypto-assets. Read more
🇬🇷 Greece Warns Influencers Over Illegal Gambling Promotions
Greek authorities are investigating 18 influencers, rappers and models with a combined 3.6 million followers over alleged promotion of unlicensed gambling. Under the strengthened legal framework, individuals can face fines of €5,000-€50,000, while companies and other parties involved may face penalties of up to €2 million per violation. Read more
🇧🇷 Brazilian Gambling Operators Begin Winding Down Local Operations
Licensed operators started taking their websites and apps offline on October 6 following the implementation of Brazil’s gambling ban. Players who missed the October 5 withdrawal deadline are expected to receive refunds through banks and payment providers between October 9 and 14, while industry groups have appealed parts of the transition process to the Supreme Court. Read more
🇫🇮 Finnish Professional Bettor Wins Right to Deduct Betting Losses From Taxable Income
Finland’s Supreme Administrative Court ruled in favor of professional bettor Antti Koivula, allowing losses from unsuccessful bets to be deducted from taxable betting winnings. The case may become an important precedent ahead of Finland’s regulated betting market launch in July 2027. Read more
REGULATORY NEWS. WEEK № 41
🇹🇹 Trinidad and Tobago Opens Legal Path for Licensed Online Gambling
The Parliament of Trinidad and Tobago has approved the Gambling (Gaming and Betting) (Remote Gambling) Order 2026, lifting the previous ban on remote gambling for holders of the relevant licence issued by the Gambling Control Commission. The House of Representatives approved the measure on September 30 by 33 votes with no votes against, while the Senate approved it on October 2. The new framework allows licensed companies to conduct remote gambling activities provided they comply with applicable legislation and licence conditions. Read more
🇧🇷 Brazilian Congress Receives Dozens of Amendments to Temporary Online Betting Ban
Following President Lula’s signing of Provisional Measure No. 1,394/2026, lawmakers began actively proposing changes to the measure banning fixed-odds betting. A total of 49 amendments have already been filed. The proposals address the scope of the ban, transitional provisions, the future of licensed operators, and possible exemptions. The provisional measure remains in force as law, but Congress must approve it within the required timeframe, and the final version may differ significantly from the president’s original text. Read more
🇩🇴 Dominican Republic Introduces Unified Regulation for Land-Based and Online Gambling
On October 2, the Dominican Republic published Law No. 86-26, establishing a unified legal framework for betting and gambling, including activities conducted through websites and mobile applications. The former Dirección de Casinos y Juegos de Azar has been replaced by a new autonomous regulator, the DGJA, which will be responsible for licensing, operator supervision, player protection, anti-money laundering measures, and combating the illegal market. Online operators will require a separate licence; internet gambling will be subject to a 10% monthly tax, and licences will be issued for ten-year terms. Read more
🇲🇹 Malta Introduces New VAT and Gambling Tax Framework from October 1
Malta has simultaneously revised its VAT rules and special gambling tax regime. Instead of a single 5% rate for relevant activities, differentiated rates are being introduced depending on the type of game and how it is offered, while a separate levy on gaming devices is being consolidated into the main gambling tax system. At the same time, the previous VAT exemption is being narrowed: for certain betting- and casino-related services, operators will now need to determine separately whether an exemption applies and take into account the place where the service is actually consumed. The new tax rules primarily apply to services provided to players located in Malta and do not represent a general additional tax on the entire international turnover of Malta-based iGaming companies. Read more
REGULATORY NEWS. WEEK № 40
🇧🇷 Brazil Tightens Market Controls After Online Betting Ban as Illegal Segment Expands Rapidly
On September 25, President Luiz Inácio Lula da Silva signed Provisional Measure No. 1,394/2026, banning the organization, offering, intermediation, and advertising of fixed-odds betting in Brazil, including sports betting and online casinos. The measure entered into force immediately upon publication, but Congress must approve it within 120 days; otherwise, it will expire. Existing licenses will cease to be valid after a transition period, while operators will be required to stop accepting funds, return remaining player balances, and wind down advertising and sponsorship activities. Read more
🇬🇪 Georgia Fully Launches International iGaming Licensing Regime for Operations Outside the Domestic Market
Following legislative changes introduced in summer 2026, Georgia has completed the rollout of a separate international licensing regime for online casinos, slots, and sports betting. These licenses are issued for five years and are intended specifically for serving foreign markets; Georgian citizens are not permitted to gamble under this model. Georgia’s Revenue Service officially confirms the introduction of new international permit categories and an annual licensing fee of GEL 100,000 for each type of activity. In addition, Georgia International Strategic Group, which promotes the regime, states that operators are subject to a 5% tax on gross gaming revenue, zero tax on reinvested profits, a 1% regulatory monitoring fee, remote incorporation without a mandatory physical office, as well as access to corporate banking services and gambling-related payments using MCC 7995. Read more
🇧🇬 Bulgaria Proposes Capping Payment Intermediaries’ Revenue from Gambling Transactions at 1.5%
Bulgaria has opened for consultation an unusual mechanism targeting banks, payment institutions, and electronic money issuers that process gambling account deposits and prize payouts. If the total fee charged for such a transaction exceeds 1.5% of its value, the intermediary would be allowed to retain only the amount up to the 1.5% threshold, while the excess would have to be transferred to the state budget. This means the proposal is not exactly a direct ban on charging fees above 1.5%: companies could still impose a higher fee, but they would receive no economic benefit from the portion above the limit. Monthly reporting and separate accounting for such transactions are also proposed for monitoring purposes. The public consultation will remain open until October 23. Read more
REGULATORY NEWS. WEEK № 39
🇮🇹 Italy Considers New Gambling Measures as Part of Its 2027 Budget
Giorgia Meloni’s government is considering temporary measures that could generate an additional €400–500 million for the state budget from the regulated gambling sector. The main options include extending land-based gambling licences for three years, until the end of 2029, potentially generating €200–250 million annually, as well as preparing a new tender for the scratch-card concession with an estimated starting value of around €1 billion. Digital Lotto receipts and an additional Lotto and SuperEnalotto draw are also being discussed. The proposals have not yet been included in the draft budget and may still be amended or removed before it is presented in October 2026. Read more
🇪🇺 Polymarket Seeks to Have Prediction Markets Recognised as Financial Products in Europe
Polymarket is holding talks with regulators in the UK and the EU in an effort to have prediction markets classified as financial services rather than gambling. The company has already faced restrictions in Italy, the Netherlands, and France and is now seeking to bring the European approach closer to the US model, where event contracts are regulated by the CFTC. According to the report, Polymarket has held meetings with regulators in London and Brussels, including representatives of the European Commission and ESMA. ESMA has noted that some event contracts may qualify as financial instruments or derivatives, although this classification would not apply to every product, while investor protection and market integrity remain key regulatory concerns. Read more
🇧🇬 Bulgaria Launches Public Consultation on New Gambling Advertising Restrictions
The Bulgarian government has prepared amendments to its gambling legislation that would introduce stricter advertising restrictions. The measures under consideration include limits on aggressive marketing, a ban on bright and neon signage near land-based casinos and gaming halls, connecting operators’ equipment to National Revenue Agency systems for real-time data transmission, and stronger AML and tax-control requirements. Gambling advertising on sports kits and at sporting venues is expected to remain permitted, although the final conditions may change following the consultation. Further tax increases for online operators are also being discussed, after the GGR tax rate was already raised from 20% to 25% at the beginning of 2026. Read more
🇲🇹 Malta Publishes AI Guidelines for Licensed Gambling Operators
The Malta Gaming Authority and the Malta Digital Innovation Authority have introduced the AI Gaming Charter, a voluntary framework for the safe, transparent, and responsible use of artificial intelligence in the gambling sector. Operators are encouraged to build AI governance frameworks based on the level of technological risk, clearly inform users about the role and limitations of AI, monitor algorithmic fairness, and use representative datasets. The guidelines also address personal data protection and GDPR compliance, as well as the need for human oversight of AI-driven decisions. An MGA study found that most licensed companies do not yet have a fully developed AI strategy, while analytics, operational optimisation, customer support, and responsible gambling remain among the most mature areas of AI adoption. Read more
🇵🇱 Poland’s Gambling Industry Pushes Back Against an EU-Wide Gambling Tax
Four Polish gambling industry organisations have opposed a proposed 1% EU-wide levy on licensed online gambling that could be used as an additional source of funding for the EU’s 2028–2034 budget. Industry representatives argue that introducing a common tax without simultaneously harmonising regulation and strengthening enforcement against illegal operators could weaken licensed businesses. In Poland, operators already pay a 12% turnover tax, which industry groups claim can amount to more than half of GGR. Instead of an additional tax, they are calling for greater harmonisation of market-access rules, consumer-protection standards, and measures to combat illegal gambling. The proposed EU-wide levy remains under discussion. Read more
REGULATORY NEWS. WEEK № 38
🇲🇩 Moldova Plans to Introduce a 6% Tax on Gambling Account Deposits and Lottery Ticket Purchases
The Moldovan government has approved its draft tax policy for 2027, which introduces a new 6% “vice tax” on gambling and lotteries. Unlike conventional taxes on winnings or operators’ revenue, the tax would be applied directly to the amount deposited into a gambling account and, in the case of lotteries, to the ticket price. The operator or payment-accepting company would be responsible for withholding the tax and transferring it to the state budget. The Ministry of Finance expects the measure to generate approximately MDL 500 million in additional revenue in 2027. The proposal must still be approved by parliament before it can take effect. Read more
🇧🇷 Brazil Establishes a Procedure to Confiscate More Than R$1 Billion Frozen in Accounts Linked to Illegal Betting Operators
Brazil’s Ministry of Justice and Public Security has established a separate procedure for transferring funds frozen in the accounts of unlicensed betting operators to the state. The potential value of these assets exceeds R$1 billion, or approximately $190 million. After receiving the relevant materials from the SPA, the National Secretariat of Public Security (Senasp) initiates administrative proceedings and notifies the operator, which is given time to submit objections and supporting documents. Once the administrative stage is complete, the case is referred to the Attorney General’s Office for court proceedings. The funds may be permanently confiscated and transferred to the National Public Security Fund only after a court ruling. Read more
🇰🇭 Cambodia to Suspend Online Gambling Broadcast from All Land-Based Casinos Starting in October
The Cambodian government has ordered the temporary suspension of online gambling operations organized and broadcast from licensed land-based casinos beginning in October 2026. Authorities said such operations make it more difficult to monitor funds of unknown origin and create infrastructure that could be used for technology-enabled fraud. During the suspension, the relevant government agencies have been instructed to develop a stricter legal framework, introduce a digital monitoring system, and train specialists. The authorities will then decide whether this format should be permitted again. Read more
REGULATORY NEWS. WEEK № 37
🇦🇲 Armenia to strengthen blocking of unlicensed online operators and restrict their advertising from February 2027
From February 8, 2027, amendments will come into force in Armenia revising the current mechanism for combating foreign online casinos and lotteries operating without a local license. The main change concerns technical blocking: access to such websites should be restricted more effectively through telecom operators, while the distribution of their advertising will also face additional limitations. The State Revenue Committee says the reform is needed because the existing administrative tools are insufficient given the widespread presence of foreign platforms on the Armenian internet. Read more
🇧🇬 Bulgaria proposes a complete ban on outdoor gambling advertising and tighter restrictions to close remaining loopholes
Bulgaria’s “We Continue the Change” party has proposed further tightening gambling advertising rules. The initiative would introduce a complete ban on outdoor advertising, including billboards, public transport stops and buildings, except at gambling venues themselves, as well as a ban on product placement in the media. It also proposes limiting the size of betting company logos on adult sports team uniforms and requiring permitted gambling advertisements to dedicate at least 10% of their space to gambling harm warnings. The authors of the proposal argue that the current rules still allow operators to bypass restrictions through sponsorships, sports event branding and other promotional formats. Read more
🇰🇿 Kazakhstan expands the list of territories where casinos and other gambling venues may operate
The Government of Kazakhstan has approved new territories for the operation of casinos, slot machine halls, betting shops and totalizators. In addition to the existing gambling zones near the Kapshagay Reservoir and Burabay, specific areas have been designated in the Almaty, Mangystau, Zhetysu, East Kazakhstan, West Kazakhstan and Abai regions, where casinos and gaming halls will be intended exclusively for foreign citizens and stateless persons. The resolution comes into force on September 11, 2026. At the same time, organizing gambling outside permitted zones, including via the internet and mobile applications, remains prohibited in Kazakhstan. Read more
🇬🇧 The UK awaits an FCA decision that could open the market to prediction markets
The UK Financial Conduct Authority (FCA) is preparing to publish its position on retail access to high-risk investment products, which could lead to a review of the ban on binary options that has been in place since 2019 and potentially create an opportunity for prediction markets to launch. At present, such products effectively fall under existing restrictions because of their speculative and gambling-like nature. If the rules are relaxed, financial prediction markets would require FCA authorization, while platforms offering markets on politics or sports would need to operate under a UK Gambling Commission license. Read more
REGULATORY NEWS. WEEK № 36
🇧🇷 Several initiatives to fully ban online betting have emerged in Brazil’s parliament
Brazil’s Congress is considering several bills that would effectively reverse the fixed-odds betting market legalized in 2024. One of the most radical proposals, PL 2972/2026, would prohibit the operation, offering, advertising, and payment processing of betting activities both online and offline, including services provided by foreign platforms, and would repeal Law No. 14,790/2023. In parallel, the Senate has introduced PL 4977/2026, which proposes a similar ban on betting operations, promotion, and intermediary services. Read more
🇭🇺 Hungary is considering abolishing its state gambling regulator
The Hungarian government has launched a review of the Supervisory Authority for Regulated Activities (SZTFH), established in 2021 and responsible, among other areas, for gambling regulation. Under a decree published on August 31, the authorities are expected to assess the possibility of dissolving the regulator and transferring its responsibilities to state bodies under direct government control. The Minister of Justice is required to present the results of the review by September 30, 2026. The review comes amid criticism of the SZTFH’s decision to grant CAI Hungary Kft a 35-year casino licence without holding a public tender. Read more
🇧🇬 Bulgaria has introduced mandatory licensing for gambling affiliates
Since August 1, 2026, Bulgaria has operated under a new regulatory regime for affiliates working with gambling operators. Companies are now required to obtain authorization or a licence and disclose to the regulator the websites, apps, social media platforms, video platforms, and other promotional channels they use. Affiliates are subject to a fixed annual fee of €6,000, as well as an additional 10% tax on performance-based commissions linked, for example, to player registrations and deposits. Operating without a valid licence may result in websites being blocked, while the National Revenue Agency (NRA) will also be able to require banks and payment providers to block transfers to unlicensed affiliates. Foreign companies will additionally need to appoint an authorized representative with an address in Bulgaria. Read more
🇺🇿 GLI has received official status as a recognized certification laboratory in Uzbekistan
Uzbekistan’s National Agency for Perspective Projects (NAPP) has officially added Gaming Laboratories International (GLI) to the list of laboratories whose testing and certification results are recognized by the regulator. This allows operators and suppliers to use GLI certificates when launching gaming products in Uzbekistan’s regulated market and demonstrating compliance with applicable requirements. The market is already moving into the operational stage: according to SBC Eurasia, four licences have been issued to two operators. At the same time, some of the technical requirements of the new regulatory framework are still being developed, and GLI continues to work with NAPP on their further refinement. Read more
REGULATORY NEWS. WEEK № 35
🇭🇺 Hungary Strengthens Oversight of State-Owned Gambling Operator Szerencsejáték Zrt
State-owned operator Szerencsejáték Zrt is reviewing its marketing structure and the way sponsorships and grants are allocated in order to improve transparency. By the end of 2026, the company plans to hold three closed tenders and move from working with a single agency to a multi-agency model. In 2025, the operator’s revenue exceeded €3 billion, while tax and regulatory payments amounted to around €447 million. Read more
🇦🇱 Albania Reopens the Online Sports Betting Market
Albania will allow up to 10 licensed online sportsbook operators, ending the full ban on online betting that had been in place since 2019. The minimum licence fee is around €4 million, licences will be valid for 10 years, and operators will have to contribute 15% of GGR to a special state fund in addition to corporate tax. Land-based betting shops and slot halls will remain prohibited. Read more
🇳🇱 Meta Blocks Casino Ads Targeting Self-Excluded Players in the Netherlands
An investigation by BNR found hundreds of ads for illegal online casinos on Facebook and Instagram, some of which directly encouraged players to bypass the CRUKS self-exclusion system. At the beginning of 2026, around 100,000 people were registered in CRUKS. Following the investigation, Meta removed a significant share of the ads and blocked the accounts associated with them. Read more
🇰🇭 Cambodia Shuts Down 20 Casinos in Crackdown on Scam Centres
Cambodian authorities have closed 20 casinos as part of a wider campaign against online scam operations and inspected all 195 casinos in the country. Another 29 licences were suspended, while authorities reported that 605 locations linked to scam networks had been shut down between July 2025 and July 2026. The crackdown follows allegations that casinos and former gambling venues were being used by organised criminal groups for online fraud. Read more
Regulatory news. Week № 34
🇦🇲 Armenia Launches Real-Time Gambling Monitoring System
Armenia has selected Malta-based Random Systems International to build a centralized monitoring platform for licensed gambling operators. All bets placed with licensed operators will be transmitted to the system in real time, giving the State Revenue Committee direct access to the data. The platform is expected to become fully operational in January 2027, with the agreement running for 15 years. Read more
🇪🇺 EU Introduces Unified AML Rules for Gambling Operators
From 10 July 2027, Regulation (EU) 2024/1624 will apply directly across the EU, introducing a common European definition of gambling services and unified AML requirements for operators. Customer due diligence will be mandatory for bets or winnings of €2,000 or more, including linked transactions. Licensing and decisions on which forms of gambling are permitted will remain under the authority of individual EU member states. Read more
🇮🇪 Ireland Tightens AML Controls for Gambling Operators
Ireland’s new AML strategy introduces closed-loop payments, meaning player withdrawals must be returned to the same account used to make the deposit. Crypto transactions will face enhanced source-of-funds checks, while transfers must include sender and recipient information. Authorities are also strengthening information sharing between financial, tax, and law-enforcement bodies. Read more
Regulatory news. Week № 33
🇲🇿 Mozambique introduces dedicated regulation and licensing for online gambling for the first time
The Government of Mozambique has approved the country’s first standalone regulatory framework for gambling conducted through electronic and computer systems. Online gambling is now recognized as a separate segment with its own licensing regime, independent from land-based casino concessions. The reform comes amid a noticeable shift of players toward online gambling: casino tax revenues in 2025 amounted to around MZN 359.5 million — just 54% of the planned target and 7.3% below the previous year’s level. Read more
🌎 Malta, Spain, Italy and Portugal oppose an EU-wide tax on online gambling
The four countries have spoken out against a proposed levy on online gambling that the European Commission is considering as a new source of funding for the EU budget for 2028–2034. Current estimates refer to a 3% tax on the sector’s net turnover, which could generate around €1.9 billion annually, or €13.3 billion over seven years. Malta is showing the strongest resistance, as iGaming is a significant part of its economy, while Spain, Italy and Portugal have also raised objections. The introduction of such a new EU budget resource would require unanimous approval from all Member States, meaning opposition from even one country could block the initiative. Read more
🇮🇹 Italy to launch a single government portal for complaints against licensed online operators on 10 September
Italy’s gambling regulator, ADM, will launch the Portale delle segnalazioni, a centralized system for handling disputes between players and licensed online operators. Users will be able to authenticate via the government’s SPID system or the CIE electronic identity card, provide their gaming account details, select the operator, and describe the circumstances of the dispute. The portal is intended for cases where a player has already contacted the operator directly but has not received a satisfactory response. Under the new system, complaints will be centrally registered and monitored by the regulator. Read more
🇵🇭 Philippines allows civil forfeiture of POGO assets without a prior criminal conviction
The Supreme Court of the Philippines has approved special rules for the civil forfeiture of assets linked to banned Philippine Offshore Gaming Operators (POGOs), implementing the Anti-POGO Act of 2025. The new mechanism allows the government to seek the seizure of buildings, equipment, bank funds and proceeds linked to illegal activities regardless of whether the owner has been criminally charged or convicted. Forfeiture proceedings will be handled separately from criminal cases, which is expected to speed up the recovery of assets that previously could remain frozen for years. The rules will take effect on 24 August. Read more
Regulatory news. Week № 32
🇦🇿 Azerbaijan Tightens Criminal Liability for Organizing Gambling via the Internet and Mobile Platforms
President Ilham Aliyev has approved amendments to the Criminal Code expanding the list of digital channels through which the organization of gambling is considered a criminal offense. In addition to internet resources and telecommunications networks, the law now explicitly covers social media, mobile communications, applications, and platforms operating through other technologies. For repeat offenses involving the organization of online gambling, fines may now reach up to twice the amount of criminal proceeds obtained, while the term of restriction or deprivation of liberty has been increased from 2−3 years to 2−4 years. If minors are involved, the offense is committed by a group of individuals, or substantial criminal proceeds are generated, imprisonment of 3 to 5 years may apply. For particularly aggravated offenses, the penalty is set at 5 to 8 years of imprisonment, with the previous alternative of restriction of liberty removed. Read more
🇳🇿 New Zealand Issues Detailed Online Casino Advertising Guidelines Ahead of Licensed Market Launch
New Zealand’s Department of Internal Affairs has published guidance for future online casino licensees that will be required to comply with new advertising rules from December 1, 2026. Operators will be prohibited from compensating affiliates based on player registrations, deposits, losses, or other gambling activity, while payments based on impressions and clicks will remain permitted. Bonuses will generally be allowed to be promoted only on operators’ own websites and through communications sent to users who have provided consent. Personal endorsements by celebrities, fictional characters, and AI-generated individuals will be prohibited. Gambling advertisements must not appear on platforms with a significant proportion of underage users, feature mascots or imagery likely to appeal to children, create a fear of missing out, or claim that gambling outcomes can be influenced by luck, fate, rituals, or superstition. New Zealand plans to issue no more than 15 online casino licences through an auction process. Operators that do not apply for a licence will be required to stop serving New Zealand players from December 1. Read more
🇳🇿 New Zealand Permanently Ends Commercial Greyhound Racing
Commercial greyhound racing and betting on greyhound races officially ended in New Zealand on August 1, 2026. The decision was made due to persistently high levels of injuries and animal deaths, despite repeated demands for the industry to improve welfare and safety standards. A dedicated transition agency has been established to oversee the rehoming of greyhounds, the closure of racing clubs, and support for workers affected by the shutdown of the industry. Read more