Online gambling stocks performance was mixed over the past week, with the sector edging down by 0.5% on average but still outperforming the Nasdaq Composite, which fell 5%. Evoke stood out with a sharp 20% gain, while Codere Online and Rush Street also posted positive results. At the other end of the spectrum, Jumbo Interactive recorded the steepest declines, highlighting the varied performance across operators, suppliers, and affiliates.

Overview

  • Average growth – On average, share prices analyzed decreased by -0.5% in the last week.
  • “Winner” – The most significant leap in our sample of online gambling-focused companies was taken by Evoke with an increase of +20%, followed by Codere Online (+3%).
  • “Loser” – Jumbo Interactive had the worst weekly performance in our analysis, with a change of -7%.
  • Comparison to the Nasdaq Composite – Compared to the development of the Nasdaq Composite (-5%), 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 -0.1%; with Codere Online (+3%) leading the ranking.
  • Multi-channel operators – Among the multi-channel operators that also operate a relevant retail business, Evoke is the “winner” with +20% while the average share development was +1%.
  • Suppliers – The shares of the suppliers included in the analysis saw, on average, a decrease of -3%. The winner is Sportradar with +0.9%.
  • Affiliates – On average, affiliates’ shares saw a decrease of -0.4% with Better Collective (+2%) leading and Gentoo Media (-4%) coming last.

The share increase of Evoke

Evoke’s strong share price performance during the week was primarily driven by the announcement on 4 June that the company had agreed to a recommended £243 million takeover by Bally’s Intralot. The deal offered a substantial premium to Evoke’s previous market valuation, prompting investors to reprice the stock sharply higher as the board described the transaction as the most attractive outcome for shareholders.

The decline of Jumbo Interactive shares

Jumbo Interactive’s share price weakness during the week appears to have been driven more by investor sentiment than by any positive company-specific catalyst. Notably, the company released an ASX filing on 5 June disclosing a share sale by CEO and founder Mike Veverka, a development that can sometimes be interpreted by the market as a negative signal and put short-term pressure on the stock.

 

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