The betting company sector has it all, with some company stocks soaring while others have sunk recently. On November 9, 2026, JP Morgan delivered a heavy blow to Allwyn, sending it to a 5.5-year low and noting that despite the price drop, it remains more expensive than industry majors, while significant challenges exist due to Betano and PrizePicks. It is recalled that it reduced the price target to 9 euros from 13 euros, downgrading its recommendation to underweight from neutral. Furthermore, there was intense market speculation that due to the sharp drop in valuation and low free float, it will be excluded from MSCI Greece.
What sector valuations show
Indeed, as the relevant JP Morgan table shows in terms of EV/EBITDA and P/E, Allwyn has higher multiples compared to the average. Also, if we compare it with Flutter, the largest online betting group, Allwyn's EV/EBITDA multiple for 2027 is 9.7 times compared to Flutter's 7.5, and the P/E multiple is 12 times compared to 11.6 respectively. Of course, there is a large difference in dividend yield, which is 9.3 percent for Allwyn and zero for Flutter. The comparison becomes more difficult if we look, for example, at the multiples of Evoke, which has been acquired by Bally's Intralot. It has an EV/EBITDA for 2027 of 6.6 times and a P/E of 9.4 times, and the multiples drop further in 2028.
What the data shows
According to data from investing.com, Flutter has losses of 63 percent over a one-year period, while based on analyst estimates, the average price target is 118.27 dollars, implying an upside potential of 44.7 percent from the closing price. The technical picture of the stock is a sell according to the site. Over the same period, DraftKings has losses of 39 percent, with analysts having an average price target of 30.65 dollars implying an upside potential of 65.5 percent, and the technical picture is a strong sell.
A different picture is presented by Entain, whose technical picture is a strong buy, the average price target is at 858.35 pounds, and over a one-year period it has losses of 34.6 percent. Over the past month, it has recorded a significant rise from its lows. The rise was attributed to a series of positive developments such as the joint venture with MGM which brought in 710 million dollars in profit during the third quarter. However, Entain's own revenues in the United Kingdom and Ireland increased by 17 percent, and management confirmed its estimates.
Of course, it has exposure to Brazil which creates some pressure. Lottomatica's technical picture is also a strong buy, with analysts having a price target of 32.95 euros, implying an upside potential of 18 percent. On a 1-year basis, it has a rise of 45 percent. Here too, due to profitability, the price has risen by about 14 percent over the past month. Finally, Evoke, which has been acquired by Bally's Intralot, also has a strong buy technical picture with the price at the price target and a rise of about 33 percent over the six-month period, partly due to the offer price made by Bally's Intralot.
Giorgos Katikas
georgekatikas@gmail.com
www.bankingnews.gr
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