Intel Takes Major Step in Plan to Acquire Chip Startup SambaNova

The two chip companies have signed a term sheet, according to sources with direct knowledge of the agreement.

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Hinge founder leaves CEO role to launch AI-powered dating startup

Hinge founder Justin McLeod is stepping down as CEO to launch an AI-powered dating service called Overtone.

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Fal nabs $140M in fresh funding led by Sequoia, tripling valuation to $4.5B

The round, which was Fal’s third fundraise this year, also included a secondary sale for early investors, sources tell us.

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Cashew Research is going after the $90B market research industry with AI

Cashew Research uses AI to automate the market research process while still collecting real-world data from humans.

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SpaceX reportedly planning 2026 IPO with $1.5T valuation target

The company is looking to raise $30 billion, which would make it the biggest IPO ever, just ahead of Saudi Aramco’s in 2019.

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B Capital founding partner Kabir Narang leaves to launch new investment platform

Kabir Narang is laying the groundwork for a new investment platform slated for 2026.

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Five arrested in Calgary for alleged casino fraud following staff investigation

Over in Calgary, in Canada, two men and three women have been arrested as they are alleged to have been working together to defraud a casino located in the city’s southeast.
The news comes from the Calgary Police Service, who say they were contacted after casino management staff became suspicious of possible fraudulent activity and carried out their own investigation.

CHARGES LAID
We have arrested & charged 2 men & 3 women who are believed to be responsible for working together to defraud a casino located in the city’s southeast.
After casino management staff became suspicious of possible fraudulent activity, they conducted their own… pic.twitter.com/S7dV7q3Wq5
— Calgary Police (@CalgaryPolice) December 8, 2025

According to a news release from the City of Calgary, it says “that between Friday, Oct. 31, 2025, and Wednesday, Nov. 19, 2025, two employees of the casino illegitimately issued unearned winnings to three patrons on several occasions, who participated in various card games.”
On Wednesday, November 19, 2025, at roughly 3:20PM, Calgary police were called to the casino for alleged reports of theft and fraud. The actual casino hasn’t been named.
It was upon arrival that police located and arrested the five alleged suspects.
The statement continues: “As a result, Yalan YIN, 50, Leonilo Calahi JUAN, 51, Rui Qin HUANG, 52, Rosielyn KONNO, 57, and Catherine MANIPON, 48, are each charged with one count of fraud over $5,000. MANIPON and KONNO are also charged with one count each of criminal breach of trust.”
Alleged fraud suspects will appear in court next week
The five people who were arrested for alleged fraudulent activity are scheduled to appear in court on Monday, December 22, just a few days ahead of Christmas Day.
“Addressing financial crime requires a united approach across different agencies,” says Inspector Scott Neilson of the Calgary Police Service.
“The Calgary Police Service works closely with regulatory bodies and industry partners to ensure gaming industry standards are followed, and those who attempt to exploit them are held accountable. We thank our investigators and partners for their diligent work in helping us advance this investigation.”
The police have also urged anyone with information relating to this possible incident to reach out and have shared that tips can also be submitted anonymously to Crime Stoppers.
Featured Image: CC4.0 license, by AceYYC on Wikimedia Commons
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Punter who sued Betfair after almost $2 million gambling loss loses appeal

Lee Gibson, a multimillionaire “problem gambler,” has lost his appeal in the Court of Appeal, after suing Betfair over losing close-to £1.5 million ($2 million) on gambling.
Gibson claimed that the betting platform had a duty to protect him from himself, as they were aware of the gambling-related harm he was suffering.
The gambler had placed more than 30,000 individual bets with Betfair between 2009 and 2019, and he has been trying to reclaim around £1,000,000.
During the period of time listed, Gibson owned a large property portfolio of tenanted properties which was reported to have been generating substantial rental income, with this highlighted in the latest court document.
Flutter Entertainment is the parent company of the sportsbook operator, with other brands like FanDuel and Paddy Power under its company too. It was in 2024 when Judge Nigel Bird, in the UK High Court, rejected the case, but this was then appealed by the punter.
Appeal in Betfair case is rejected
The appeal was rejected on Monday (December 8) with Gibson’s claim initially being on five grounds. The first ground aimed to challenge the conclusion that there was no breach of the license conditions, while ground 2(a) challenged the finding of no duty of care.
Ground 2(b) challenged the finding of no negligence, while ground 2(c) challenged causation. Finally, the fifth ground, challenged the conclusion about s33 of the Gambling Act that gambling contracts entered into in breach of the licensing conditions are not void.

On 8 December 2025, the Court of Appeal handed down judgment in Gibson v TSE Malta LP (t/a Betfair) [2025] EWCA Civ 1589, dismissing the appeal brought by a former Betfair Exchange customer. The October 2025 hearing attracted wide press coverage and was billed as a landmark case… pic.twitter.com/hCii9TgQUU
— 3 Verulam Buildings (@3VBchambers) December 9, 2025

The new Court of Appeal document goes through each ground, before a conclusion was given which reads: “Standing back, the judge considered the relevant evidence, made no errors of principle in doing so and came to an entirely reasonable conclusion on that evidence.
“I can see no justification for allowing the appeal against the conclusion that Betfair neither knew nor ought to have known that Mr Gibson was a problem gambler.”
Featured image: Flickr, licensed under CC BY-NC-ND 2.0
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Bally’s secures increase in loan, taking it to $1.1 billion for NYC casino

A deal has been agreed to increase Bally’s Corp term loan to $1.1 billion, with the initial term loan becoming $600 million and the delayed draw term loan now being $500 million.
This amendment to the loan, which was entered into in July 2025, will be used for general corporate purposes and to pay or replenish liquidity used to pay licensing fees in connection with the company’s New York State casino license, amongst others.
This comes after the Gaming Facilities Location Board in New York recently chose three casinos to be granted downstate licenses, with each license requiring a $500 million payment. Resorts World New York City, Bally’s New York Casino and Metropolitan Park all won approval.
The term loans will mature five years after the closing of the new financing, unless the company’s unsecured bonds due 2029 remain outstanding as of March 1, 2029. If this is the case, the term loans will mature on March 1, 2029.
Bally’s Chairman of the Board, Soo Kim, commented in the announcement, “We appreciate the strong support of our lenders, as the A&R Commitment Letter further strengthens Bally’s liquidity position while enabling continued investment in our strategic growth pipeline—spanning online gaming, our casino portfolio, and our expanding resorts developments.”
What does the future hold for Bally’s Corp?
Now that Bally’s Corp has been awarded a license for New York, and the term loan proceeds can support the payment, the company can begin with making its Bronx casino a reality.
Bally’s vision for a $4 billion casino resort at Ferry Point Park in the Bronx, featuring a hotel, entertainment center, and waterfront views. Credit: Bally’s Corp
It was back in mid-June when the city council approved a legislative measure which would see Bally’s able to develop the casino on a section of the former Trump Golf Links site at Ferry Point in the Bronx.
On the site, the major project has been outlined as including a 500,000-square-foot casino complex, a 500-room hotel with a spa and meeting facilities, retail offerings, a 2,000-capacity event center, and parking for up to 4,660 vehicles.
Moving away from the upcoming New York site, Bally’s also has the right to developable land in Las Vegas at the site of the former Tropicana Las Vegas. This was first announced back in 2024 when a ballpark and entertainment resort destination, created in partnership with Bally’s Corporation, was first shared as the plans to move forward.
Featured Image: CC2.0 license, Rob Young on Wikimedia Commons
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BGC warns budget plans will mean thousands of job losses and illegal gambling set to double

“This budget means thousands of job losses,” the Betting and Gaming Council (BGC) warns as they say they’re ready to work with the UK government following the Autumn Budget announcement.
The Budget confirmed an increase to gambling tax as it will push remote gaming duty from 21 to 40 per cent starting in April 2026. The creation of a new 25 per cent general betting duty for online gambling will be introduced too from April 2027.
Self-service gambling terminals, spread betting, pool bets, and horseracing are exempt, while bingo taxes will have the current 10 per cent rate abolished. The BGC, in a new statement, touched on how “racing has seemingly been protected from higher betting duties” and says it “sounds like a win, but anyone who understands how the sector operates knows that isn’t true.”

Our industry supports thousands of jobs, invests in communities and funds sport, from the grassroots to elite level. None of that is guaranteed after the Budget. If regulated firms are squeezed, the consequences will be felt in job losses, shop closures and reduced investment in… pic.twitter.com/RG6tSYWy8O
— Betting and Gaming Council (@BetGameCouncil) December 8, 2025

Shortly after the tax announcement, many operators across the UK sectors also made their feelings known. Flutter Entertainment, for example, described it as being “a very disappointing outcome.”
Gambling tax hikes in UK could push players out of regulated sector, BGC suggests
The association suggests the Chancellor has actually imposed one of the largest tax hikes on any industry in modern times and says these steep tax rises, layers on new regulation, “will not make gambling safer.”
Instead, the BGC says it will do the opposite and push ordinary players out of the regulated sector and into the unsafe black market.
Grainne Hurst, Chief Executive of the Betting and Gaming Council, said: “The Government’s own figures show these tax plans will cause significant damage. Industry analysis based on modelling from EY finds that nearly 17,000 high-tech jobs will be lost across online betting and gaming, with over £6 billion in stakes diverted to the black market – a 140% increase in its size.”
The council says they are ready to work with the Government to deliver the safest, most sustainable gambling environment in the world, but policies that strengthen the regulated market are required.
Featured Image: AI-generated via Ideogram
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