Gaming & Gambling

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Gambling has been a cornerstone of human culture for centuries—and today it is a trillion-dollar global industryspanning casinos, sports betting, online gaming, and emerging digital formats. Despite its scale and resilience, the industry remains culturally stigmatized, politically sensitive, and heavily regulated, creating barriers to entry that both deter mainstream investors and protect incumbents.

The market is digitizing and expanding. Casinos are no longer confined to Las Vegas or Atlantic City—states across the U.S. are legalizing and licensing new facilities, fueling regional growth and tax revenue. At the same time, the mainstream has embraced gambling in unprecedented ways: the NFL now accepts sponsorships from online gaming operators, sports broadcasts are filled with betting integrations, and esports wagering is drawing in younger demographics.

Sports betting and iGaming continue to be among the fastest-growing segments, driven by mobile adoption and the normalization of gambling as entertainment. Esports, skill-based gaming, and blockchain-enabled wagering represent the next frontier, expanding the market into new demographics and geographies.

Still, the challenges are real: fragmented regulations across jurisdictions, compliance burdens, and ongoing reputational headwinds. These barriers suppress valuations and limit access to capital for operators who cannot navigate the complexity.

At Forbidden Brands Capital, we see opportunity where others see friction. Our expertise in banking, insurance, and regulatory structuring allows us to underwrite operators in state-legal but federally complex markets, and to identify early movers in emerging formats. By applying institutional-grade rigor to an industry often sidelined by mainstream finance, we provide investors discreet exposure to a sector that generates stable, recurring revenues and outsized global growth—but remains structurally mispriced due to stig

• Geographic Expansion: Legal markets are spreading beyond traditional hubs, bringing gaming closer to the mainstream.
• Digital Traction: Online platforms are capturing increasing market share and delivering faster, scalable growth.
• Under-capitalized Opportunity: Stigma and regulation limit institutional competition, creating alpha for savvy capital.
• Regulatory Expertise as Advantage: Success depends on structuring capital for compliance, licensing, and risk—areas where most investors hesitate.