The iGaming industry recorded an average week, thanks to the strong recovery of DraftKings and increasing success of many established players of the market.
Although Flutter stays the leader of the market in terms of market cap, it was DraftKings that showed the most significant growth throughout the week, rising by 8.39% while achieving historically high turnover of 37.9 million shares. Among the smaller companies, the results were mixed, with Bragg Gaming and Meridian Holdings being successful while microcaps were under pressure.
iGaming Sector: Weekly Stock Analysis
| Rank | Ticker | Company | Market Cap | Change | Volume | Revenue |
|---|---|---|---|---|---|---|
| 1 | FLUT | Flutter Entertainment plc | 16.44B | 1.86% | 6,314,892 | 17.16B |
| 2 | DKNG | DraftKings Inc. | 11.93B | 8.39% | 37,885,844 | 6.22B |
| 3 | SGHC | Super Group (SGHC) Limited | 6.63B | 0.46% | 2,358,915 | 2.43B |
| 4 | CHDN | Churchill Downs Incorporated | 6.12B | 1.13% | 1,019,486 | 2.99B |
| 5 | RSI | Rush Street Interactive, Inc. | 5.77B | -0.80% | 2,409,130 | 1.37B |
| 6 | BRSL | Brightstar Lottery PLC | 2.03B | -0.18% | 2,728,142 | 2.47B |
| 7 | ACEL | Accel Entertainment, Inc. | 987.31M | -1.06% | 360,713 | 1.39B |
| 8 | CDRO | Codere Online Luxembourg, S.A. | 407.16M | 0.67% | 12,309 | 247.04M |
| 9 | MRDN | Meridian Holdings Inc. | 182.45M | 4.44% | 60,545 | 197.19M |
| 10 | INSE | Inspired Entertainment, Inc. | 175.28M | 0.45% | 113,334 | 281.40M |
| 11 | ROLR | High Roller Technologies, Inc. | 67.90M | -1.43% | 53,001 | 18.62M |
| 12 | GRSD | Grandstand Limited | 66.97M | 0.26% | 109,327 | 165.25M |
| 13 | BRAG | Bragg Gaming Group Inc. | 42.57M | 3.07% | 2,524 | 122.47M |
| 14 | SEGG | Sports Entertainment Gaming Global Corporation | 8.25M | -2.32% | 56,651 | 559.59K |
Large-Cap Leaders
- Flutter Entertainment plc (+1.86%) – The shares went upwards almost by 2%, supporting its reputation as one of the sturdy large-cap players in the sector. The company takes full advantage of its global presence and the successful entry into U.S. markets using FanDuel, but its capitalization is lower than recent performance.
- DraftKings Inc. (+8.39%) – DraftKings is a successful company in the sector adding 8.39% and surpassing 37.9M share volume. The combination of price increases and high volume indicates renewed interest in the betting market in the U.S.
- Super Group (+0.46%) – The insignificant increase shows that the company is moving in a consolidation phase with investors keeping exposure to the company’s portfolio of international sportsbooks and casinos.
- Churchill Downs (+1.13%) – Diversified presence in racing, casinos and wagering provides quite safe play for the company allowing it to enjoy the upside of the sector and having more stable metrics compared to smaller gaming firms.
- Rush Street Interactive (-0.80%) – The slight decrease happens despite the great position of RSI in the online casino and sportsbook markets. The revenue of the company is $1.37B proving its ability for growth, but this week’s performance suggests some short-term profit-taking or rotation toward larger names
Mid-Tier Operators
- Brightstar Lottery PLC (-0.18%) – Was essentially flat, indicating continued stability in its lottery-focused business.
- Accel Entertainment (-1.06%) – Declined modestly despite generating $1.39B in revenue. The company’s distributed gaming model continues to provide a stable revenue base, but investor interest remained weaker than in higher-growth online gaming stocks.
- Codere Online (+0.67%) – Posted a small gain, maintaining relatively stable performance among smaller online operators. The company continues to provide exposure to international iGaming markets, although its lower liquidity makes the stock more sensitive to individual trading flows.
Small-Cap
- Meridian Holdings (+4.44%) – It can be considered one of the top-performing firms in our database. It is also another example of a heightened interest in small gaming-related firms, which should be also done with caution due to the low trading volume.
- Bragg Gaming (+3.07%) – The company has yet again recorded a good performance that is better than many of its counterparts.
- Inspired Entertainment (+0.45%) – The firm still provides a good investment opportunity due to its operations in the B2B realm and exposure to the industry, rather relying on sportsbook activity among consumers.
- High Roller Technologies (-1.43%) – The company still proves to be a risky investment, as low liquidity of the stock encourages large price movements during the week.
- Sports Entertainment Gaming Global (-2.32%) – The data demonstrates that investors are still witness to significant volatility of micro-cap gaming stocks.
Market action this week suggests that large-cap growth is gaining renewed traction with DraftKings taking center stage whereas results from smaller players were a mixed bag.
DraftKings was a runaway leader in growth with an impressive gain of 8.39% along with extremely high trading volumes.
Flutter remained the largest company in the space and recorded an increase of 1.86% thus holding its position as a sector standard-bearer. Although established operators maintained stability, Super Group and Churchill Downs recorded small growth.
Results from mid-tier players showed mixed performances, with RSI and Accel Entertainment declining slightly. As far as small caps are concerned, their performance was inconsistent, with Meridian Holdings and Bragg Gaming leading the way while micro-cap SEGG lost.
In conclusion, the sector has a slightly positive outlook this week, however, the considerable investment activity is seen with established digital players only rather than the iGaming overall market.
