Blue Oceans

How to play Blue Oceans

Harris Tsangarides, executive director of the Gaming & Casino Supervision Commission, said his department had noticed spikes in gambling activity coinciding with GMI payment dates, prompting the regulator to consider “technical solution” to cross-reference GMI beneficiary lists with casino membership records.

An issue raised by Giannis Vasiliadis, director of WBAS, was the limited access to recipients’ banking information. This limited data can hint at suspicious activity but cannot conclusively verify gambling transactions.

Data Protection Commissioner Maria Christofidou said her office had reevaluated a 2022 legal opinion and now recognised a potential legal basis for more granular access to banking information.

About Blue Oceans

“The largest black market operators have scaled to create recognisable brands with traffic that can compare to domestically licensed operators,” the report’s authors wrote. “The top group of sites by common owner has a 12% share of traffic, while the largest single brand has 10%.”

Beyond offering crypto payment solutions, a number of black market operators are licensed in “light touch” offshore jurisidictions which use opaque offshore operating structures to help to obscure company ownership and make local enforcement against these companies complex, the report noted.

By comparison, the long tail of smaller black market sites rely heavily on affiliates to generate traffic.

What is Blue Oceans?

But its share price has taken a tumble over the last year, dropping up to 37% since September 2025. Its market cap currently sits at £3.39 billion.

The operator first started trading on LSEG’s main market in February 2016 under its previous company name GVC Holdings. This followed its delisting from the Alternative Investment Market (AIM exchange).

Its share price decline began after reaching an all-time high in September 2021. Over the course of five years it has slipped 73% to 530p.