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“Despite the enhanced benefits implementation starting before the union sought recognition of any Red Rock employees, the District Court found that the timing and rollout of the benefits were intended to deter the union’s organising effort and ordered Red Rock to recognise and bargain with the union pending completion of the board’s administrative proceedings,” Station’s SCOTUS petition reads in part.

While Station has remained steadfast in its opposition to Culinary, the union has made gains elsewhere in recent years. The entire Las Vegas Strip is now unionised, and Culinary used city-wide strikes as leverage in late 2023 and early 2024 to gain new multi-year labour agreements with the city’s major operators, including Wynn, Caesars and MGM.

Other than Station, Las Vegas Sands had been the other largest non-union holdout in Las Vegas for many years. But when the Venetian-Palazzo was sold to Apollo Global Management in 2021, the firm had no issues with Culinary and ratified the property’s first-ever deal with the union in 2024.

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Retail betting diverged significantly from the wider market, with non-remote betting GGY falling 3.3% to £2.4 billion ($3.2 billion). The number of betting shops dropped for a 12th consecutive reporting period to 5,617 premises—a 3.6% annual decline (down 208 shops from March 2025).

Other retail sectors performed better. Bingo GGY increased 8.2% to £703.8 million ($941.8 million), while arcade GGY rose 10.7% to £800.1 million ($1.07 billion).

While the new figures underline the sheer scale of Britain’s regulated market, leading operator Entain is pressing the government for tougher action against black-market platforms.

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The move initially appeared to work. Flutter had a market capitalisation of about $36 billion when it began trading in New York in January 2024, rising to roughly $50 billion by June the following year. Flutter’s value later fell sharply as investors lowered their earnings expectations.

In the second quarter of 2026, Flutter’s US revenue fell 6% to $1.683 billion, while sportsbook revenue fell 15%. US adjusted EBITDA fell sharply, and Flutter subsequently reduced its guidance. Despite this, FanDuel retained the number-one US sportsbook position, with Flutter reporting a 39% share of US sportsbook gross gaming revenue.

Ben Robinson, managing partner at Corfai, argues that the American listing achieved what it was supposed to achieve. The problems came afterwards. “The question was which arm of the K-shaped market Flutter would end up on. We have the answer now. Capital is concentrated in a narrow band of technology names and everything else is being marked on earnings.”