The 2026 fiscal and regulatory shock forces a reclassification of the gambling operator. Tax compresses margin, liability concentrates accountability, and mature tooling collapses the case for in-house rebuilding. The operator stops being a vertically integrated software house and becomes a regulated system integrator — owning the brain, renting the muscle, and governing the accountability perimeter. For boards, the question becomes a capital allocation problem: which layers

Mexico’s latest fiscal proposal places the gambling sector under close scrutiny. The 2026 Economic Package, now before Congress, includes...