Last week’s online gambling stocks performance painted a mixed but slightly positive picture, with the group posting an average gain of about 2%. Codere Online stood out with a sharp jump, while a few names like Evoke and Zeal lagged behind.

Overview

  • Average growth – On average, share prices analyzed increased by +2% in the last week.
  • “Winner” – The most significant leap in our sample of online gambling-focused companies was taken by Codere Online with an increase of +23%, followed by Gentoo Media (+4%).
  • “Loser” – Evoke and Zeal had the worst weekly performance in our analysis, with a change of -7% and -3%.
  • Comparison to the Nasdaq Composite – Compared to the development of the Nasdaq Composite (-2%), 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 +3%; with Codere Online (+23%) leading the ranking.
  • Multi-channel operators – Among the multi-channel operators that also operate a relevant retail business, MGM is the “winner” with +4% while the average share development was +0.6%.
  • Suppliers – The shares of the suppliers included in the analysis saw, on average, an increase of +0.8%. The winner is Playtech with +3%
  • Affiliates – On average, affiliates’ shares saw an increase of +2% with Gentoo Media (+4%) leading and Catena Media (-2%) coming last.

The share increase of Codere Online

The uptick in Codere Online’s share price from 17.11 to 21.11 appears to reflect investors’ positive reaction to its Q3 2025 earnings release on November 17, which highlighted a 39% increase in active customers in Mexico and reaffirmed full-year guidance of €220-230 million in net gaming revenue.

The decline of Evoke shares

The share weakness is more likely a continuation of existing worries than a reaction to fresh news. Since the late-October Q3 2025 update, which showed only modest 5% revenue growth and no upgrade to full-year guidance, investors have stayed cautious in light of Evoke’s heavy debt and recent losses, plus UK media coverage about possible betting-shop closures and the risk of higher gambling taxes weighing on future profits.

 

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