Online gambling stocks performance was slightly under pressure last week, with the average share price edging down by 0.2% and clearly lagging the broader Nasdaq’s solid gains. While a few standouts like Kambi and Catena Media delivered strong upside, losses from names such as Betsson and Sportradar weighed on the overall picture. Across segments, results were mixed, with suppliers and affiliates posting modest gains, while online-focused operators struggled.

Overview

  • Average growth – On average, share prices analyzed decreased by -0.2% in the last week.
  • “Winner” – The most significant leap in our sample of online gambling-focused companies was taken by Kambi with an increase of +12%, followed by Catena Media (+7%).
  • “Loser” – Betsson had the worst weekly performance in our analysis with a change of -11%
  • Comparison to the Nasdaq Composite – Compared to the development of the Nasdaq Composite (+4%), the average development of the online gambling industry looks “worse”.

Segment-specific developments

  • Online-focused operators – The shares of online-focused operators included in the analysis saw, on average, a decrease of -2%; with Bet-at-Home (+4%) leading the ranking.
  • Multi-channel operators – Among the multi-channel operators that also operate a relevant retail business, OPAP is the “winner” with +4% while the average share development was +0.4%.
  • Suppliers – The shares of the suppliers included in the analysis saw, on average, an increase of +0.9%. The winner is Kambi with +12%.
  • Affiliates – On average, affiliates’ shares saw an increase of +0.7% with Catena Media (+7%) leading and Gambling.com (-6%) coming last.

The share increase of Kambi

Kambi’s shares moved higher during that week after the company announced a new sportsbook partnership in the U.S., expanding its footprint in a key growth market. The deal was seen as a positive signal for future revenue potential, especially as Kambi continues to replace outgoing contracts with new partners.  That update appears to have reassured investors about the company’s medium-term outlook, supporting the share price over the period.

The decline of Betsson shares

Betsson’s share price came under pressure during that week after the company released a preliminary Q1 update on April 9 that disappointed investors. The update pointed to a drop in revenue and a sharp decline in profitability, mainly due to higher taxes, weaker performance in some regions, and ongoing investments in less profitable markets. That combination of softer earnings and margin pressure appears to have driven the negative sentiment in the stock over the period.

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