What Spectrum Gaming Group does

Spectrum Gaming Group, founded in 1993 by Fredric E. Gushin and headquartered in Horsham, Pennsylvania, is a privately-held non-partisan consultancy specializing in the economics, regulation, and policy of legalized gambling worldwide. The firm has provided independent research and professional services to public-sector and private-sector clients across 45 US states and territories and 50+ countries on six continents, serving state, tribal, and national governments, casino operators, suppliers, regulators, developers, investors, and law firms. Spectrum employs 11-50 staff augmented by a deep bench of senior associates including former regulators, former lottery directors, former casino operators, AML specialists, law enforcement professionals, attorneys, and economists.

The firm's core offerings span feasibility and market studies, regulatory and AML compliance consulting, lottery services, governmental licensing and due diligence investigations, public policy guidance, legislative and regulatory services, litigation support, patron market research, economic and social impact studies, strategic planning, sports betting advisory, and operator/developer services. Its technology stack includes proprietary gravity models for projecting gross gaming revenue, the Spectrum i-Gaming Heuristic Theorem (SIGHT) developed in 2002 to forecast igaming expansion, and the Spectrumetrix data analytics platform jointly developed with Management Science Associates providing monthly commercial casino performance reports. The firm operates multiple specialty groups including Spectrum Gaming Capital (financial advisory), NFC Global (due diligence and compliance, acquired 2016), Spectrum Gaming Sports Group, Spectrum Esports Advisors, Spectrum Gaming Hospitality Group, Spectrum Brazil, and Spectrum Asia.

Spectrum generates revenue through project-based and retainer professional services engagements priced on scope, complexity, and client type, with no public pricing disclosed. Distribution is exclusively direct, leveraging 30+ years of relationships with regulators and operators, public-sector procurement processes, and thought leadership including annual Top 10 Gaming Trends reports and sponsorship of major industry conferences such as NCLGS meetings and the East Coast Gaming Congress. The firm maintains its non-partisan stance as a core positioning principle, refusing engagements that seek a preferred result, which underpins its credibility with government clients and recurring RFP wins.

Name

Spectrum Gaming Group

Legal name

Spectrum Gaming Group

Website

https://spectrumgaming.com

Company type

Private

Founded year

1993

Operating status

Operating

Headcount range

11–50 employees

Short description

Spectrum Gaming Group is a non-partisan consultancy founded in 1993 that provides independent research, regulatory advisory, and professional services on the economics, regulation, and policy of legalized gambling. It serves governments, casino operators, developers, investors, and law firms across 45 US states and 50+ countries.

Ownership category

akta.pro rank

Product category

Gaming Industry Consulting

NAICS

Gambling Industries (7132), Other Gambling Industries (71329)

SIC

Services-Legal Services (8111)

akta.pro primary industry

Gaming Regulatory Consulting & Advisory (MPAEAOAA)

Keywords

• Gaming industry consulting
• Gambling regulation advisory
• Feasibility market studies
• Due diligence investigations
• Economic impact analysis

Headquarters

HQ city

Horsham

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales

Revenue model

1. Professional Services Engagements: Spectrum provides independent research and professional services to public-sector and private-sector clients on a project and retainer basis. Services include feasibility studies, market analyses, regulatory consulting, litigation support, due diligence investigations, and policy guidance. The firm does not accept engagements seeking a preferred result.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Spectrum Gaming Group is a non-partisan consultancy that provides independent research and professional services to the legalized gambling industry. The firm delivers feasibility and market studies, regulatory and anti-money-laundering compliance consulting, governmental licensing and due diligence investigations, lottery services, legislative and public policy guidance, litigation support, patron market research, economic and social impact studies, strategic planning, and sports betting advisory. Services are sold to public-sector and private-sector clients including state, tribal and national governments, casino operators, suppliers, regulators, developers, investors, and law firms across 45 US states/territories and 50+ countries.

Product overview

Spectrum Gaming Group is a non-partisan consultancy specializing in economics, regulation, and policy of legalized gambling worldwide. The company operates as a unified consultancy with multiple specialty groups and affiliated companies, including Spectrumetrix (a data analytics platform developed with Management Science Associates), Spectrum Gaming Capital (financial advisory), NFC Global (due diligence and compliance), Spectrum Gaming Sports Group (sports betting advisory), Spectrum Esports Advisors (esports consulting), Spectrum Gaming Hospitality Group (hospitality advisory), and regional specialty groups such as Spectrum Brazil. Together these offerings provide comprehensive research, professional services, and data analytics to public and private sector clients in the gaming industry.

Differentiator

Problem solved

Functional benefit

Products and services

• Spectrumetrix A comprehensive gaming industry data analytics platform developed in partnership with Management Science Associates (MSA), providing the most robust source for domestic commercial casino performance data and analysis through a suite of five monthly analytical reports for gaming operators, manufacturers, analysts, investors, regulators, and gaming professionals.
• Spectrum Gaming Capital
• NFC Global
• Spectrum Gaming Sports Group
• Spectrum Esports Advisors
• Spectrum Gaming Hospitality Group
• Spectrum Brazil
• Annual Top Gaming Trends

Quantifiable outcome

• SIGHT theorem (developed in 2002) accurately predicted igaming expansion trajectory in North America
• +2 more outcomes

Named customers8 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Nine partnerships are on record, tiered core, strategic and minor.

• NFC GlobalcoreStrategic or Co-development PartnerNFC Global (NFC Worldwide Solutions) is a leading worldwide provider of due diligence, compliance and risk consulting services for over 35 years. Spectrum works closely with NFC, which has performed services in more than 150 countries, providing comprehensive global information resources including investigations and due diligence for gaming industry clients.
• Spectrum Gaming CapitalcoreStrategic or Co-development PartnerSpectrum Gaming Capital is a financial advisor to the global gaming and resort industries. SGC arranges strategic partnerships and early stage capital for developers, provides mid-market investment banking services, performs complex valuation work and provides litigation support. SGC fills the gap between gaming consultants and balance sheet-based investment banks.
• Spectrumetrix (with Management Science Associates)coreTechnology or IntegrationDeveloped by Spectrum Gaming Group and Management Science Associates Inc., Spectrumetrix is described as 'the gaming industry data source.' Provides the most robust source for all domestic commercial casino performance data and analysis through a suite of five monthly analytical reports for gaming operators, manufacturers, analysts, investors, regulators, and attorneys.
• National Council of Legislators from Gaming States (NCLGS)coreStrategic or Co-development PartnerSpectrum Gaming Group serves as Executive Director of NCLGS, a major organization of state legislators from gaming jurisdictions. Spectrum manages and produces NCLGS meetings including Winter and Summer conferences, providing thought leadership and policy discussions for gaming legislators.
• Clarion EventsstrategicGTM or Marketing PartnerSpectrum serves as the global gaming advisor to Clarion Events, supporting ICE Totally Gaming conferences and related events. Spectrum assists with International Legislators Day and provides expertise for gaming industry exhibitions and conferences.
• Tottenham & CostrategicStrategic or Co-development PartnerAndrew Tottenham's consulting firm specializing in strategic planning, feasibility studies and project development for the international gaming industry. Tottenham serves as Senior Associate for Spectrum Gaming Group's European operations.
• Gaming EconomicsstrategicStrategic or Co-development PartnerLee Richardson's international iGaming consultancy and advisory business. Works with Spectrum on US-based sports betting engagements, with clients in Europe, Asia and the Americas.
• Management Science Associates (MSA)coreTechnology or IntegrationMSA developed Spectrumetrix data platform with Spectrum Gaming Group. Stephen Gongaware serves as Senior Vice President of Business Development at MSA leading the Casino Gaming Practice. MSA provides solutions for casino sports books, slot operations, marketing analytics, and casino mobile applications.
• Mahony GlobalminorStrategic or Co-development PartnerMahony Global is listed as a partner organization working with Spectrum Gaming Group on international gaming industry consulting.

Scale indicators5 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• H2 Gambling Capital: H2 Gambling Capital is a leading gaming market intelligence and consulting firm providing data, forecasting, and advisory services to the global gambling industry. Direct competitor to Spectrum on market sizing, regulatory consulting, and iGaming/sports betting advisory.
• The Innovation Group: The Innovation Group provides feasibility studies, market analysis, and management consulting to the casino, hospitality, and entertainment industries. Direct peer offering the same core professional services as Spectrum to overlapping operator and developer clients.
• Eilers & Krejcik Gaming: Eilers & Krejcik Gaming is a specialty research and advisory firm covering the gaming equipment, interactive gaming, and sports betting sectors. Comparable to Spectrum in providing expert research, regulatory analysis, and due diligence support to gaming operators and suppliers.
• Union Gaming Analytics: Union Gaming provides institutional-quality research, consulting, and investment banking services to the gaming and lodging industries. Comparable to Spectrum's gaming-focused financial advisory work, particularly alongside Spectrum Gaming Capital.

Emerging players

• Regulus Partners: Regulus Partners is a UK-based gambling advisory and research firm providing consulting, regulatory strategy, and policy analysis. Comparable to Spectrum's European and international regulatory consulting work but with narrower geographic focus.

Others

• Clarion Events: Clarion Events is a global events organizer that produces major gaming conferences including ICE Totally Gaming. Spectrum serves as Clarion's global gaming advisor, making it an adjacent ecosystem partner rather than direct competitor.

Broad incumbents

• PwC Gaming & Hospitality: PwC's Gaming & Hospitality practice provides consulting, transactions support, and assurance services to gaming operators and regulators globally. Competes with Spectrum on large-scale feasibility, M&A due diligence, and regulatory engagements.
• KPMG Gaming Practice: KPMG's global gaming practice provides audit, tax, and advisory services to casino operators, lotteries, and gaming regulators. Overlaps with Spectrum on due diligence, compliance, and feasibility work but as part of a much broader professional services portfolio.
• Deloitte Gaming & Hospitality: Deloitte's Gaming & Hospitality consulting practice serves casino operators, tribal gaming entities, and gaming regulators with strategy, technology, and regulatory advisory services. Overlaps with Spectrum on operator advisory and policy work but at greater scale.
• CBRE Hotels / Gaming Group: CBRE's Hotels / Gaming Group provides valuation, advisory, and capital markets services for hospitality and gaming assets worldwide. Comparable to Spectrum Gaming Capital's valuation and investment banking work as part of a broader commercial real estate franchise.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/spectrumgamingg

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Spectrum Gaming Group