Online gambling stocks performance was mixed last week, with average share prices edging up by 0.5%, but still lagging the broader Nasdaq Composite. Evoke stood out with a sharp 25% jump, while Codere Online also posted solid gains, whereas Rush Street and DraftKings weighed on the sector with notable declines. Overall, performance varied widely across segments, highlighting a selective and uneven market backdrop.

Overview

  • Average growth – On average, share prices analyzed increased 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 +25%, followed by Codere Online (+5%).
  • “Loser” – Rush Street and DraftKings had the worst weekly performance in our analysis, with a change of -9% and -7%.
  • Comparison to the Nasdaq Composite – Compared to the development of the Nasdaq Composite (+2%), 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 Codere Online (+5%) leading the ranking.
  • Multi-channel operators – Among the multi-channel operators that also operate a relevant retail business, Evoke is the “winner” with +25% while the average share development was +4%.
  • Suppliers – The shares of the suppliers included in the analysis saw, on average, a decrease of -0.4%. The winner is Kambi with +3%.
  • Affiliates – On average, affiliates’ shares saw an increase of +0.8% with Better Collective (+3%) leading and Raketech (-3%) coming last.

The share increase of Evoke

Last week’s positive move in Evoke shares from 19.01 to 23.01 seems to have been driven by fresh market interest around the company’s strategic outlook and positioning, with traders reacting to regulatory calendar items and coverage suggesting the stock could benefit from structural changes in the gambling sector, helping fuel short-term buying interest. While there wasn’t a single major press release in that exact window, Evoke has been in focus due to broader industry talk and broker commentary on its prospects, which supported sentiment and lifted the shares.

The decline of Rush Street shares

Last week’s negative share movement in Rush Street Interactive appears tied to a softer market reaction after recent news cycles, including a moderate analyst price target adjustment and public insider stock sales reported in early January, which can dampen sentiment and trigger short-term profit-taking among traders.

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