Online gambling stocks performance was broadly negative in the analysed period, with shares in the analysis falling by an average of 7%, compared with a 1% decline for the Nasdaq Composite. Catena Media and Codere Online led the gains at +4% each, while Better Collective (-40%) and MGM (-19%) recorded the sharpest declines.

Overview

  • Average growth – On average, share prices analyzed decreased by -7% in the last week.
  • “Winner” – The most significant leap in our sample of online gambling-focused companies was taken by Catena Media with an increase of +4%, followed by Codere Online (+4%).
  • “Loser” – Better Collective and MGM had the worst weekly performance in our analysis, with a change of -40% and -19%.
  • Comparison to the Nasdaq Composite – Compared to the development of the Nasdaq Composite (-1%), 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 -5%; with Codere Online (+4%) leading the ranking.
  • Multi-channel operators – Among the multi-channel operators that also operate a relevant retail business, Caesars is the “winner” with -0.1% while the average share development was -7%.
  • Suppliers – The shares of the suppliers included in the analysis saw, on average, a decrease of -7%. The winner is Jumbo Interactive with +0.5%.
  • Affiliates – On average, affiliates’ shares saw a decrease of -9% with Catena Media (+4%) leading and Better Collective (-40%) coming last.

The share increase of Catena Media

Catena Media’s shares gained during the period as the company continued its share buyback programme. Catena Media disclosed on September 28 that it had repurchased 98,900 shares between September 21 and 25, following further buybacks the previous week, providing additional buying activity in the market.

The decline of Better Collective shares

Better Collective’s shares fell sharply after Brazil introduced a nationwide ban on fixed-odds betting and online gaming. The company responded by cutting its 2026 outlook, suspending its 2027–2028 financial targets and pausing its share buyback programme; Brazil had previously been expected to contribute around EUR 45m in revenue this year.

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