Spin Cycle: DraftKings’ Flex, Bally’s Financials Highlight Week In Gambling

Welcome to “Spin Cycle,” Casino Reports’ weekly Friday roundup of all things impactful, intriguing, impressive, or idiotic in the gambling industry. Pull up a chair, grab a stack of chips and a glass of your beverage of choice, and take a spin with us through this week’s news cycle …

DraftKings flexes its muscles

Online casino rewards and bonuses come in all shapes and sizes, and DraftKings unveiled this week a new approach that makes theirs as malleable as possible.

DK Casino has launched Flex Spins, a new system whereby users can choose from any of over 100 games in the library to use their free spins on. Typically at online casinos, when free spins are awarded, there’s a designated game (or choice among two or three designated games) where they have to be used.

“At DraftKings, we’re focused on delivering greater variety, flexibility, and compelling new offerings for our customers, and Flex Spins represent the latest step in enhancing the DraftKings Casino experience,” DraftKings Executive Vice President and General Manager of iGaming Christian Bogstrand said in a release announcing the arrival of Flex Spins.

From now through March 29, players can log on daily and claim a share of 100 million Flex Spins that DraftKings is giving away to launch the new rewards.

Bully for Bally’s

Bally’s Corporation published its 2025 Q4 earnings this week, highlighting the positive: a 28.6% year-over-year increase in overall company revenue, to $746.2 million, driven in large part by the acquisition of new land-based casinos.

The North America Interactive division saw an even greater percentage increase, up 55.4% to $62.3 million. Bally’s is the only online casino operator in the regulated Rhode Island market, and it also operates in New Jersey and Pennsylvania.

“Our fourth quarter completed a successful and truly transformational year for Bally’s,” said CEO Robeson Reeves in a release. “In 2025, we reshaped and expanded our portfolio both domestically and internationally, online and in retail, while strengthening our balance sheet and positioning the company for near- and long-term growth.”

Bally’s financials are under the microscope more than ever in 2026, with major projects in the works in Chicago, Las Vegas, and the Bronx, driving factors behind the company securing $1.1 billion in term loans last year.

Complaints ‘Lodged’

The raid and shutdown of The Lodge Card Club in Round Rock, Texas, has been a significant story in the poker world for the past week and seems it will continue to be so for a while, and it’s worth a quick summary/catch-up here in Spin Cycle at this stage:

The poker room was raided March 10 by the Texas Alcoholic Beverage Commission’s Financial Crimes Unit (TABC) as part of an investigation into “suspected money laundering and illegal gambling,” per a TABC statement. The Lodge Club, co-owned by noted poker players Doug Polk, Andrew Neeme, and Brad Owen, confirmed five days later that the club’s assets and bank accounts had been frozen and that the room will be closed until the investigation is complete.

After initially calling the raid a “witch hunt,” Polk issued a statement Monday, starting, “I did not participate in, and still have no knowledge of, any money laundering in the operation of the Lodge. I understand that some people assume that because there was a search warrant, a crime must have been committed, but that’s not really how the process works.”

PokerNews obtained a copy of the affidavit leading to the TABC raid, which included allegations of suspiciously large deposits made at the club and possible violations of the strict laws under which poker rooms need to operate in Texas.

As of press time, no charges had been filed or arrests made, and the Lodge does not have a timeline for reopening.

House Rules: Insights from around our network

GOTTA START SOMEWHERE: Virginia took iGaming seriously this year — that matters [by John Pappas]

COME TOGETHER: Gambly, Unabated announce merger [by Jeff Edelstein]

LIGHTS, CAMERAS, ACTION: Park MGM’s planned ‘recording-enabled gaming salon’ a sign of the changing times [by Eric Raskin]

NO MASS: Massachusetts internet casino bill halted in committee [by Chris Altruda]

FEBRUARY FIGURES, NJ EDITION: New Jersey online casino revenue again tops $250 million [by Chris Altruda]

FEBRUARY FIGURES, MI EDITION: Michigan February online casino revenue leaps 22.7% year-over-year, to $273M [by Chris Altruda]

FEBRUARY FIGURES, PA EDITION: Pennsylvania online casino AGR nearly $240 million in February, up 15.5% over 2025 [by Chris Altruda]

THE BALL IS TIPPED: March Madness brackets endure [by Brant James]

NO DUAL CURRENCY IN TWIN CITIES: Minnesota lawmakers latest to file anti-sweepstakes bill [by Chris Altruda]

LUCK OF THE IRISH: Mega Millions hands out pot of gold in Ohio on St. Patrick’s Day [by Eric Raskin]

SUNDOWN IN SUNSHINE STATE: Florida omnibus gambling bill fails in House [by Brant James]

TOPPS-Y TURVY: How buying sports cards went from Sunday morning fun to a RICO claim [by Jeff Edelstein]

BETR BUSINESS: Jake Paul’s Betr social casino now live in over 30 states [by Jeff Edelstein]

EXECUTIVE DECISION: Former Indiana Gaming Commission executive director joins Fanatics [by Jill R. Dorson]

HOT TO TROT: Hawthorne eyes April racing, continues search for racino suitor [by Chris Altruda]

HALF-TRUTH IN ADVERTISING: Winning is everything at bet365, unless you are winning everything [by Jeff Edelstein]

Small stakes and hot takes

This week on the Casino Reports podcast Low Rollers, I welcomed Las Vegas-based journalist and regular Casino Reports contributor Brian Joseph for a conversation about the battle between the cardrooms and tribes in California, what’s at stake, and the politics of it all, plus I get Joseph’s perspective on the apparent near-certainty of an NBA expansion team coming to Vegas.

I also offer quick thoughts on the affiliate opportunity this NFL season, Kalshi vs. Arizona and how it could impact the timeline, The Atlantic’s one-sided sports betting deep dive, and whether the gambling industry’s biggest problem is the excess of ads, plus I suggest that prediction markets are ruining the experience of watching the Oscars.

Full episode:

The Shuffle: Other news and views

MISSOURI CRACKDOWN COMMENCES: Greene County convenience store owner charged for gaming machines [Springfield News-Leader]

STAY ON TRACK: South Carolina advances bill for on-site horse racing wagers [iGaming Business]

NEW DOMINION: Virginia casinos report $95M in February revenue [Virginia Business]

DESERT DRIBBLE: Las Vegas is poised and prepared for spotlight of NBA [Las Vegas Sun]

BAD BEATS AND DEADBEATS: Mississippi legislature passes casino child support intercept bill, sends it to the governor [WLBT 3]

GARDEN GROWTH?: New Jersey is reconsidering legalizing casinos outside Atlantic City [The New York Times]

NEWLY NAMED: International Center for Responsible Gaming appoints Ashlee Olujic as director of tribal & community engagement [CDC Gaming]

I’LL DRINK TO THAT: Wine Country casino to open three restaurants, hire 430 workers amid $1 billion expansion [San Francisco Chronicle]

The Bonus Round

Completing the Spin Cycle with some odds and ends and our favorite social media posts of the week.

• Add Taraji P. Henson to a list that includes Patrick Schwarzenegger, Megan Thee Stallion, Livvy Dunne, and Kendall Jenner. The Golden Globe-winning actress is the newest star of a Fanatics Betting & Gaming ad campaign, specifically promoting Fanatics Casino in a new nationwide commercial titled “The House Always Rewards.” Henson plays “Fran,” a Fanatics accounting employee who’s sick of the company giving players rewards. Fanatics says the Empire star will return for additional commercials in the series.

• The execs at Mandalay Bay apparently liked what they saw out of Circa’s Stadium Swim, as the Strip property is set to open Tailgate Beach Club on May 16, combining the thrill of a sportsbook with the chill of a massive pool. According to the website, Tailgate is currently hiring for “model cocktail server,” “model bartender,” “model hostess,” and other roles where one presumes looks will be taken into account.

• An online casino jackpot win of $223,883 is huge, but it’s not exactly record-setting or earth-shattering. But it is when you consider the context: A lucky player on Hard Rock Bet in Michigan recently scored that prize with a 10-cent opt-in on the game Triple Gold. Gotta love the ol’ 2,238,830X return on investment!