Online gambling stocks performance was broadly positive last week, with the sector delivering an average gain of around 6%, slightly outperforming the Nasdaq Composite. Gains were led by strong moves from Evoke and Entain, while a laggard such as OPAP weighed on the lower end of the range. Across segments, momentum was fairly balanced, with suppliers and multi-channel operators showing particularly solid progress.

Overview

  • Average growth – On average, share prices analyzed increased by +6% 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 +30%, followed by Entain (+16%).
  • “Loser” – OPAP had the worst weekly performance in our analysis, with a change of -9%.
  • Comparison to the Nasdaq Composite – Compared to the development of the Nasdaq Composite (+6%), 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, an increase of +5%; with PointsBet (+12%) leading the ranking.
  • Multi-channel operators – Among the multi-channel operators that also operate a relevant retail business, Evoke is the “winner” with +30% while the average share development was +7%.
  • Suppliers – The shares of the suppliers included in the analysis saw, on average, an increase of +7%. The winner is Bragg with +11%.
  • Affiliates – On average, affiliates’ shares saw an increase of +3% with Catena Media (+7%) leading and Gambling.com (+0.5%) coming last.

The share increase of Evoke

Evoke’s share price move during that week was mainly driven by growing anticipation around its upcoming FY2025 results at the end of April, with investors reacting to signals that trading had started the year in line with expectations. After a difficult period, that update helped shift sentiment a bit, as the market began to position for a potential improvement in profitability and outlook ahead of the results release.

The decline of OPAP shares

OPAP’s weaker share performance during that week appears to be linked to a lack of fresh positive catalysts, combined with some profit-taking after its strong run earlier in the year. In addition, investor sentiment was likely weighed down by ongoing discussions around regulatory and tax developments in Greece, which tend to create short-term uncertainty for the stock.

 

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