This week in the gambling market, Flutter Entertainment and Churchill Downs emerged as leaders among large-cap firms, while Rush Street Interactive faced the steepest decline despite reporting significant third-quarter revenue growth. Rush Street Interactive experienced a notable contradiction this week: its revenue soared, yet its shares plummeted by 11.01%.
Among smaller companies, Sports Entertainment Gaming Global saw the highest percentage increase, while High Roller Technologies, Grandstand, and Bragg Gaming suffered substantial losses.
**iGaming Sector: Weekly Stock Analysis**
| Rank | Ticker | Company | Market Cap | Change | Volume | Revenue |
|——|——–|——————————–|————|———|————|———-|
| 1 | FLUT | Flutter Entertainment plc | 14.33B | 4.29% | 2,362,986 | 17.16B |
| 2 | DKNG | DraftKings Inc. | 10.38B | 0.92% | 8,891,683 | 6.22B |
| 3 | CHDN | Churchill Downs Incorporated | 6.50B | 4.03% | 1,887,334 | 3.00B |
| 4 | SGHC | Super Group (SGHC) Limited | 5.43B | -0.28% | 6,893,540 | 2.43B |
| 5 | RSI | Rush Street Interactive, Inc. | 2.79B | -11.01% | 13,223,923 | 1.47B |
| 6 | BRSL | Brightstar Lottery PLC | 1.77B | 0.52% | 1,615,212 | 2.47B |
| 7 | ACEL | Accel Entertainment, Inc. | 922.36M | 0.53% | 393,355 | 1.39B |
| 8 | CDRO | Codere Online Luxembourg, S.A. | 393.31M | 1.53% | 28,098 | 262.52M |
| 9 | MRDN | Meridian Holdings Inc. | 123.55M | -2.64% | 23,360 | 197.19M |
| 10 | INSE | Inspired Entertainment, Inc. | 94.10M | -0.83% | 284,969 | 281.40M |
| 11 | ROLR | High Roller Technologies, Inc. | 39.71M | -7.46% | 86,149 | 15.63M |
| 12 | GRSD | Grandstand Limited | 39.16M | -5.17% | 218,810 | 163.42M |
| 13 | BRAG | Bragg Gaming Group Inc. | 30.06M | -6.86% | 8,330 | 117.71M |
| 14 | SEGG | Sports Entertainment Gaming Global Corporation | 4.54M | 18.75% | 46,980 | 1.54M |
**Large-Cap Leaders**
**Flutter Entertainment (+4.29%)**
Flutter's market capitalization rose to $14.33 billion, making it the most significant mover among the largest firms. Despite challenges like the shutdown of Betfair Brazil due to local betting regulations, the company still operates other brands, including Betnacional. Flutter previously forecasted a revenue loss of $70 million due to this suspension and a $20 million decline in adjusted EBITDA. The firm also announced plans to eliminate up to 1,400 jobs in the UK and Ireland as part of operational adjustments.
**DraftKings (+0.92%)**
DraftKings’ market cap climbed to $10.38 billion, with 8.9 million shares traded during the week. This increase was modest compared to that of Flutter and Churchill Downs.
**Churchill Downs (+4.03%)**
Churchill Downs’ market capitalization reached $6.50 billion, marking it as one of the better performers in the large-cap category this week. However, no specific reasons were provided for this positive movement in stock value.
**Super Group (-0.28%)**
Super Group's market cap slipped to $5.43 billion. The firm’s Sportingbet brand was adversely affected by a betting ban in Brazil, although the broader impact on the company’s overall operations should be assessed considering its diverse market presence.
**Rush Street Interactive (-11.01%)**
Rush Street Interactive’s market cap fell to $2.79 billion, marking the most significant drop among major firms. This decrease followed the release of the company’s Q3 earnings report on October 28. The report disclosed revenues of $385.9 million, a year-over-year increase of 38.8%, with net income nearly doubling to $28.7 million. Adjusted EBITDA rose 73% to $62.2 million, exceeding analyst expectations. However, the total revenue lagged slightly behind the anticipated $388.6 million, resulting in a 0.7% miss and showing a decline from Q2’s revenue of $393.8 million, despite the annual growth.
**Smaller Companies: Mixed Performance**
**Brightstar Lottery (+0.52%)**: Brightstar saw a slight increase, reaching a $1.77 billion market cap.
**Accel Entertainment (+0.53%)**: Accel achieved a market cap of $922.36 million, ending the week positively.
**Codere Online (+1.53%)**: Codere Online strengthened to a market cap of $393.31 million, operating across Europe and Latin America, where regulatory changes are vital to its business outlook.
**Meridian Holdings (-2.64%)**: Meridian dropped to a $123.55 million market cap, continuing a trend of negative performance among smaller stocks.
**Inspired Entertainment (-0.83%)**: Inspired fell modestly to a $94.10 million market cap.
**High Roller Technologies (-7.46%)**: High Roller dropped significantly to a $39.71 million market cap.
**Grandstand (-5.17%)**: Grandstand decreased to $39.16 million.
