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Levy Brothers Leave Penn Entertainment Amidst Strategic Restructuring

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Italian Police Strikes Malta-Based iGaming Company Linked to Organized Crime

The authorities believe the offending operator was just a front to launder funds obtained from illegal gambling operations across Italy. Such illegal operators can be very damaging, offering virtually zero customer protection or responsible gambling safeguards. These elements provided protection and helped popularize the brand online, while local businesses facilitated the illicit collection of proceeds, with a share going to the criminal entities. This arrangement was used to launder significant sums and would have continued expanding. The group avoided detection by transferring most proceeds from illegal activities abroad, evading Italian tax authorities. The unnamed kingpin at the center of the investigation held a prominent position in the Malta-based company. However, the operator primarily targeted the Italian market via multiple outlets dedicated to betting and games of chance, obscuring its involvement.

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The move comes as part of a planned transition, with John Levy departing in mid-February and Benjie, Aubrey, and Noah Levy leaving their positions in April The operator retains its focus on consolidating its offerings following the successful launches of ESPN Bet and theScore Bet and should be well-positioned to pursue further growth in The new hire will have large shoes to fill, as Levy was instrumental in several significant milestones for Penn Interactive.

John Levy will depart Penn in mid-February , while the rest of the family will leave in April This approach ensures a smooth management shift and should help avoid significant disruptions.

The Levys have not yet disclosed any plans post-departure, but it is safe to guess that they will remain involved with the industry that brought them such significant success. Benjie Levy noted he was happy with the Penn partnership, thanking the team for their support.

He highlighted the successful merger of the two organizations, allowing them to implement their integrated media and betting strategy. He added that the two companies had a shared vision , matched only by their efforts to foster a world-class working environment.

We could not be more proud of this team and what we have accomplished together, and we look forward to watching as they continue to build upon the successful foundation we established at theScore.

The departure of the Levy family from their roles at PENN Interactive marks a significant transition point for the company. With its robust and experienced team, PENN Entertainment aims for a seamless leadership transition and continued growth as a leader in online gaming and sports media. The company hopes to fully leverage its resources and maintain its impressive momentum going into Deyan is an experienced writer, analyst, and seeker of forbidden lore.

He has approximate knowledge about many things, which he is always willing to apply when researching and preparing his articles. With a degree in Copy-editing and Proofreading, Deyan is able to ensure that his work writing for GamblingNews is always up to scratch. Your email address will not be published.

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