The Online gambling stocks performance this past week painted a mixed picture, with the sector overall slipping by around 2% and lagging behind the broader Nasdaq’s modest gains. While Penn Entertainment and Evoke stood out with solid upward moves, a sharp decline from  Gentoo Media weighed heavily on the average. Looking across segments, strength in operators was offset by weaker results from suppliers and affiliates, highlighting a fairly uneven market environment.

Overview

  • Average growth – On average, share prices analyzed decreased by -2% in the last week.
  • “Winner” – The most significant leap in our sample of online gambling-focused companies was taken by Penn Entertainment with an increase of +9%, followed by Evoke (+4%).
  • “Loser” – Gentoo Media had one of the worst weekly performances in our analysis, with a change of  -15%. Also down by -24% were Sportradar shares due to a short-seller report.
  • 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, an increase of +0.4%; with Super Group (+4%) leading the ranking.
  • Multi-channel operators – Among the multi-channel operators that also operate a relevant retail business, Penn Entertainment is the “winner” with +9% while the average share development was +1.0%.
  • Suppliers – The shares of the suppliers included in the analysis saw, on average, a decrease of -5%. The winner is Evolution with +1%.
  • Affiliates – On average, affiliates’ shares saw a decrease of -5% with Catena Media (-0.4%) leading and Gentoo Media (-15%) coming last.

The share increase of Penn Entertainment

Penn Entertainment’s share price strength during 20–24 April was largely driven by its Q1 results release on April 23, which pointed to a “solid quarter” and reassured investors about the company’s operational momentum. The update, combined with continued confidence in its diversified business model and upcoming growth projects, appears to have supported a more positive market reaction over the week.

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