October was a positive month for a wide range of gambling operators on stock exchanges around the world, in a period when Q3 results began to roll in.
After what has been a testing 2026 for many betting businesses, the likes of Flutter Entertainment, Rank Group and Entain saw share prices rise substantially despite wider pressures from various markets still evident.
A tax rise in the UK – Machine Games Duty (MGD) from 20% to 25% – actually went down well with investors, who feared a more damaging increase to 40%.
Job cuts, fallouts from the ban in Brazil and closings of operations in different markets were all at play, but stocks still went up.
A Flutter fightback?
Take Flutter for example – the NYSE-listed, Ireland-headquartered business had to deal with all four of the challenges mentioned above. Its stock, however, rose by 8% to $82.59 (£61.61).
A combination of analyst confidence and favourable court rulings helped the firm’s stock bounceback.
Early on in October, Citi analyst Monique Pollard upgraded her rating on Flutter from ‘neutral’ to ‘buy’.
This has been a common theme in 2026, with many seeing an opportunity following the 62% year-to-date decline in Flutter’s stock.
With the Ninth Circuit Court of Appeals recently ruling that Nevada is able to regulate prediction market giant Kalshi’s sports event contracts as gambling, Flutter shares are likely to become more appealing.
So, despite a UK tax increase, the business cutting 1,400 jobs on these shores, the winding down of Betfair in Italy and exiting India for good, October might have just marked the beginning of Flutter’s turnaround on the New York Stock Exchange.
Rank Group rallies despite further tax burden
A tax increase in your main market on one of your most important products only spells bad news for your business.
The MGD rise from 20% to 25%, announced by UK Chancellor of the Exchequer, John Healey, in last week’s Autumn Budget, is set to cost Rank Group £9m per year.
It comes as another crushing blow to the Mecca Bingo and Grosvenor Casino owner, which is still adapting to the Remote Gaming Duty (RGD) hike from 21% to 40%, implemented earlier this year.
But its share price rallied on the news that the tax would increase to 25% rather than 40%.
Let’s not pretend that the current rise will not be felt by Rank Group. But a rise to 40% would’ve led to a closure of around a third of its entire portfolio, according to Chief Executive Officer, Richard Harris.
After the 5% rise was announced, Rank Group shares were up by over 10%. In October, its stock increased by 13.6% to 84.4p.
Entain in the same boat
It was a similar story for Entain, as the Ladbrokes Coral owner’s stock increased by 14.5% to £4.71.
This was again charged by the less burdensome tax rise, despite that set to cost the business to the tune of £25m per year before any mitigating measures.
Entain’s own Q3s, alongside a trading update regarding its BetMGM joint venture with MGM Resorts, arrived in mid-October.
While the company’s own results did not cause any huge change in its share price, the BetMGM results helped it to a 5% intraday rise after adjusted EBITDA increased 112% year-on-year.
Entain still finds itself in a sticky situation on the London Stock Exchange, with shares down 38% so far in 2026, but, as was the case with many other gambling PLCs, October provided a welcome boost for the business.
Other gambling PLCs’ share price changes in August:
Genius Sports: $6.36 (+11.97%)
Aristocrat Leisure: AU$64.88 (+10.19%)
evoke plc: 46.81p (+8.48%)
DraftKings: $20.91 (+8.06%)
Evolution AB: SEK821.60 (+3.76%)
FDJ United: €21.30 (+3.5%)
CIRSA: €18.58 (+3.11%)
Allwyn: €11.355 (+2.48%)
Sportradar: $12.03 (+1.43%)
Betsson AB: SEK96.35 (+0.16%)
Bally’s Intralot: €1.114 (-0.54%)
MGM Resorts International: $29.96 (-1.67%)
Bally’s Corporation: $13.52 (-3.08%)
Banijay Group: €7.90 (-3.66%)
Playtech: 354p (-4.84%)
Super Group: $10.69 (-5.9%)
Codere Online: $8.65 (-10.64%)
Kambi Group: SEK150.8 (-12.02%)
Grandstand: $1.10 (-25.17%)
Rush Street Interactive: $25.76 (-39.25%)