Online gambling stocks performance was broadly positive last week, with the companies in our analysis posting an average share price gain of 1%. Strong advances from Bet-at-Home and MGM helped lift the sector, although results varied across segments, with affiliates remaining under pressure. Compared with the Nasdaq Composite, which also rose 1%, the online gambling industry delivered a slightly weaker overall performance.

Overview

  • Average growth – On average, share prices analyzed increased by +1% in the last week.
  • “Winner” – The most significant leap in our sample of online gambling-focused companies was taken by Bet-at-Home with an increase of +14%, followed by MGM (+14%).
  • “Loser” – Raketech and PointsBet had the worst weekly performance in our analysis, with a change of -5% and -5%.
  • Comparison to the Nasdaq Composite – Compared to the development of the Nasdaq Composite (+1%), 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, an increase of +0.5%; with Bet-at-Home (+14%) leading the ranking.
  • Multi-channel operators – Among the multi-channel operators that also operate a relevant retail business, MGM is the “winner” with +14% while the average share development was +5%.
  • Suppliers – The shares of the suppliers included in the analysis saw, on average, an increase of +0.9%. The winner is Jumbo Interactive with +5%.
  • Affiliates – On average, affiliates’ shares saw a decrease of -2% with Better Collective (+2%) leading and Raketech (-5%) coming last.

The share increase of Bet-at-Home

Bet-at-Home’s strong share price performance between 25 and 29 May was likely supported by investor attention around the company’s Annual General Meeting on 29 May, which kept the stock in focus following its recent Q1 update. While the first-quarter figures were mixed, management reaffirmed its full-year outlook, and some investors appeared encouraged by the company’s efforts to navigate regulatory challenges and position itself for higher betting activity around major sporting events later in the year.

The decline of Raketech shares

Raketech’s share price came under pressure during the week of 25–29 May as investors continued to digest the company’s recent financial updates and the outcome of its Annual General Meeting. While management highlighted improving EBITDA and a stronger focus on its Nordic core business, the decision not to pay a dividend and the ongoing revenue decline compared with the previous year appear to have weighed on market sentiment and contributed to the weaker share performance.

 

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