igamingbusiness. com FINANCE
DEBT, DOLLARS AND DEAL-MAKING:
WHAT MACRO MARKETS MEAN FOR IGAMING’ S NEXT MOVE
While tariffs and trade tensions are grabbing the headlines, it’ s liquidity that is reshaping the iGaming investment landscape, writes Ben Robinson
T ariffs, treasury auctions and inflation chatter make headlines, but they’ re not what’ s driving real movement in iGaming. The overlooked force is liquidity. Shifts in global capital flow are quietly reshaping how risk is priced, how deals are structured and where valuations land. For founders, investors and dealmakers, understanding these macro undercurrents isn’ t optional – it’ s essential for timing exits, raising capital and getting ahead of the next cycle.
In this piece, we explore the macroeconomic forces shaping capital accessibility, valuations and M & A appetite in the iGaming sector. Despite the uncertainty, there’ s a strong argument that this could be one of the best windows we’ ve seen in years.
TARIFFS ARE A SIDESHOW
The recent flare-up in US-China trade rhetoric has reignited tariff concerns, particularly for land-based gaming businesses sourcing hardware from
China. But, for iGaming firms, the impact is more psychological than operational. It’ s market volatility, not component costs, that matters.
Some analysts argue the tariff taunts are more tactical than economic, designed to destabilise markets just enough to justify rate cuts. Intentional or not, the market’ s reaction may be setting the stage for a liquidity pivot and that’ s where things start to matter.
While tariffs might slow shipping lanes, it’ s bond markets, interest rates
iGB L! VE 2025 • ISSUE 138 • 69