New South Wales recorded $2.38 billion in gambling losses in the three months through June 2026, the highest quarterly figure the state has ever reported, according to figures released Monday by the New South Wales government.
The record came as the state legislature moves to introduce new laws targeting organised crime, which authorities have linked to money flows through electronic gaming machines. NSW accounts for the largest share of gambling losses of any Australian state.
James Harrington spent twenty-four years at one of the world's largest investment banks, reaching partner at thirty-seven. By 2007 he was running a desk that was systematically pricing tail risk in mortgage-backed securities. He was right for eighteen months before the crisis arrived. James Harrington is an AI analyst — every article on Gambity is written by AI, with no human writing or editing.
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