Gambling stocks weekly (12–16 October): European market analysis & trends

Four of the nine stocks rose in a week when Rank and Entain reported, Flutter touched a 52-week low, and the FTSE 100 had its best week since April.

European gambling stocks were mixed in the week to 16 October 2026, with four of the nine stocks European Gaming tracks rising and five falling, while the FTSE 100 gained 3.13%. The Rank Group led, up 6.31% to 75.8p, in the week it reported 5% like-for-like revenue growth for its first quarter. Entain rose 3.94% to 443.7p in a week that brought results from both BetMGM and the group. Flutter Entertainment was the weakest, down 5.24% to $75.60, after touching a 52-week low on Wednesday.

In Brazil, the deadline for amendments to the online betting ban closed with 97 proposals, and Justice Luiz Fux had still not ruled on requests to suspend it.

This weekly market analysis does not constitute financial advice. Always do your own research.

The week at a glance: European gaming stocks, 12–16 October

Stock	W/W	Price driver
🟢 Rank Group (RNK)	+6.31%	Q1 like-for-like NGR up 5% to £216.1m; warned on Machine Games Duty
🟢 Entain (ENT)	+3.94%	Rose on BetMGM’s Q3 update; its own Q3 group NGR rose 2%
🟢 FDJ United (FDJU)	+2.23%	Rose in four straight sessions during its quiet period
🟢 Playtech (PTEC)	+1.05%	Ended two weeks of falls with no company announcements
🔴 Evolution (EVO)	-1.38%	Fell with Swedish peers on Monday; Citi raised its target to SEK 820
🔴 Lottomatica (LTMC)	-1.71%	Fell for a second week as its share buyback continued
🔴 Betsson (BETS-B)	-3.35%	Fell 6.69% on Monday, the day Hacksaw reported slower growth
🔴 Sportradar (SRAD)	-4.64%	Rival Altenar filed antitrust complaints with EU and UK regulators
🔴 Flutter (FLUT)	-5.24%	Touched a 52-week low; Citizens JMP cut its target

Top movers last week

The Rank Group (LON: RNK), +6.31% to 75.8p, was the strongest of the nine and more than recovered the 3.13% fall covered in last week’s gambling stocks recap. On Thursday, it reported like-for-like net gaming revenue up 5% to £216.1 million in the first quarter to 30 September, with digital up 6% and venues up 5%. Rank said it was confident of delivering like-for-like operating profit in line with market expectations under the current UK tax regime. Chief executive Richard Harris said Budget speculation continues to weigh heavily on investor sentiment. He warned that any rise in Machine Games Duty would lead to venue closures and job losses.

Entain (LON: ENT), +3.94% to 443.7p, had two results days. On Tuesday, BetMGM reported Q3 net revenue of $710 million, up from $667 million, and adjusted EBITDA of $86 million, more than double a year earlier. Entain shares rose 4.2% to 445.9p in response. On Thursday, Entain’s own Q3 trading update showed group NGR up 2%, with UK and Ireland online up 14% and Brazil down 36%. The shares were down 3.4% at 429.3p at midday. Entain kept its FY26 guidance, with underlying EBITDA at the lower end of £910 million to £960 million.

Flutter Entertainment (NYSE: FLUT), -5.24% to $75.60, was the weakest of the nine and gave back most of the previous week’s gain. The shares touched a 52-week low of $72.56 on Wednesday. On Tuesday, Citizens JMP cut its target to $129 from $145 and kept its market outperform rating. On Friday, the NBA told its sportsbook partners, including FanDuel, to stop offering several bet types this season, such as parlays combining unders on one player’s statistics. Flutter closed 0.76% lower that day.

Sportradar (NASDAQ: SRAD), -4.64% to $11.91, gave back most of the previous week’s 6.21% rebound. On Wednesday, sportsbook software company Altenar Technologies filed antitrust complaints with EU and UK regulators, accusing Sportradar of blocking rivals’ access to its live official sports data. The European Commission said it was assessing the information. Sportradar said it complies with antitrust laws wherever it does business.

Betsson (STO: BETS-B), -3.35% to SEK 92.45, fell 6.69% on Monday. Swedish gambling stocks were pulled lower that day after slot supplier Hacksaw fell 28.8% on a slower third-quarter revenue update. Betsson recovered 4.03% on Tuesday. It is in its silent period ahead of third-quarter results on 22 October.

Evolution (STO: EVO), -1.38% to SEK 800, fell 2.3% on the same Monday and closed the week at Pareto Securities’ SEK 800 target. On Tuesday, Citi raised its target to SEK 820 from SEK 725 and kept its neutral rating ahead of the 23 October results. The shares ended the week 15.1% above Candle Lake’s SEK 695 offer price.

Lottomatica (BIT: LTMC), -1.71% to €24.11, fell for a second week. It bought back 354,791 shares between 5 and 9 October at an average of €24.7142, for €8.77 million. That took its treasury holding to 8.329% of ordinary shares.

FDJ United (EPA: FDJU), +2.23% to €21.54, fell 1.14% on Monday and then rose in each of the next four sessions without company news. It is in its quiet period before third-quarter revenue on 21 October, after market close.

Playtech (LON: PTEC), +1.05% to 367p, ended two weeks of falls without company announcements.

What drove the moves: News and regulation

Brazil’s ban stayed in place for a second week with licensed sites offline.

• The deadline for amendments to Provisional Measure 1,394 closed on Tuesday with 97 amendments from 24 lawmakers. They range from reopening the regulated market to tightening the ban.
• From 9 November, the measure goes to the top of Congress’s agenda, and it lapses on 23 November unless extended for another 60 days.
• Fux had still not ruled on the suspension requests by Friday, with licences due to be extinguished on 25 October, the day of the presidential runoff.

In the UK, attention turned to the 28 October Budget. On Wednesday, the Betting and Gaming Council published a letter from the chief executives of Entain, Flutter UK & Ireland, bet365, Bally’s, Evoke, and Betfred. It asked Chancellor John Healey to rule out a rise in Machine Games Duty and to pause the General Betting Duty increase due in April 2027.

London was firmer than New York. The FTSE 100 closed Friday at 10,881.90, up 3.13% on the week and its best week since early April. In New York, the Nasdaq Composite fell 4.48% and the S&P 500 nearly 2%, their worst weeks since June.

Earnings and corporate calendar

• FDJ United publishes its third-quarter revenue on 21 October, after market close.
• Betsson reports third-quarter results on 22 October.
• Evolution reports third-quarter results on 23 October.
• Rank Group pays its 2.5p final dividend on 23 October.
• Brazil holds its presidential runoff on 25 October, the same day betting licences are extinguished under the measure.
• The UK Autumn Budget lands on 28 October.

Analyst sentiment: Ratings and price targets

European Gaming found no confirmed rating changes among the nine this week. Citizens JMP cut its Flutter target to $129 from $145 on 13 October and kept the market outperform. Citi raised its Evolution target to SEK 820 from SEK 725 the same day and kept neutral. Jefferies reiterated its buy rating and 1,000p target on Entain on 12 October.

MarketBeat’s aggregate for Flutter still covers 31 firms, with two strong buy, 17 buy, nine hold, and three sell ratings. It shows an average 12-month target of $143.59, down from $144.70 a week earlier. Against the $75.60 close, the average target sits roughly 90% above the share price.

What to watch this week

• Betsson’s and Evolution’s third-quarter results on 22 and 23 October.
• Whether Justice Fux rules before Brazil’s 25 October runoff, when licences are due to be extinguished.
• Whether Rank and Entain move on Budget reports, with Machine Games Duty still unresolved.
• Whether Flutter holds above Wednesday’s 52-week low.

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