Online gambling stocks performance was mixed last week, with the companies in our analysis falling by 1% on average, compared with a 3% decline for the Nasdaq Composite. Catena Media led the ranking with a 12% gain, followed by Evoke at 9%, while Rush Street recorded the weakest performance with a 26% drop.

Overview

  • Average growth – On average, share prices analyzed decreased by -1% in the last week.
  • “Winner” – The most significant leap in our sample of online gambling-focused companies was taken by Catena Media with an increase of +12%, followed by Evoke (+9%).
  • “Loser” – Rush Street had the worst weekly performance in our analysis, with a change of -26%.
  • Comparison to the Nasdaq Composite – Compared to the development of the Nasdaq Composite (-3%), the average development of the online gambling industry looks “better”.

Segment-specific developments

  • Online-focused operators – The shares of online-focused operators included in the analysis saw, on average, a decrease of -5%; with PointsBet (+1%) leading the ranking.
  • Multi-channel operators – Among the multi-channel operators that also operate a relevant retail business, Evoke is the “winner” with +9% while the average share development was +4%.
  • Suppliers – The shares of the suppliers included in the analysis saw, on average, a decrease of -3%. The winner is Jumbo Interactive with +2%.
  • Affiliates – On average, affiliates’ shares saw a decrease of -0.6% with Catena Media (+12%) leading and Gentoo Media (-6%) coming last.

The share increase of Catena Media

Catena Media’s shares gained ground last week, supported by the company’s ongoing share buyback programme. On 30 October, the affiliate announced that it had repurchased another 235,599 shares during the week, potentially providing additional support for the share price, although the direct impact on investor sentiment remains unclear.

The decline of Rush Street shares

Rush Street Interactive shares came under pressure following the company’s Q3 results, published on 28 October. Despite revenue growing 39% to USD 385.9m, the figure fell short of analysts’ expectations, while the decision to maintain full-year guidance raised concerns about slower growth in North America.

 

Please find more data and the methodology applied in the current edition of the OGQ Magazine. Also, find more content in our data section.