Live Markets: Jefferies still positive on Europe's gaming sector
16/12/2024 11:04
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JEFFERIES STILL POSITIVE ON EUROPE'S GAMING SECTOR
Analysts at Jefferies remain positive on the European gaming
sector into 2025, driven by several key themes, with investor
attention remaining highly focused on North America and the
timing and scope of growth.
Given strong growth in online sports betting (OSB) and
iGaming in 2024, Jefferies has upgraded its estimates for the
U.S. total addressable market, now seeing circa $50 billion
gross gaming revenue market by 2030, from $37.5 billion
previously.
"For 2025, we see several stocks in the Gaming sector that
could benefit from positive catalysts," Jefferies writes.
Focus remains on the legalisation of OSB in some U.S.
states, although Jefferies admits there is limited expectation
of more states legalising OSB in the short-term.
"Operators anticipate that the general backdrop for US state
legalisation remains subdued," Jefferies says, with the prospect
of OSB in California and Texas remaining a key discussion point.
On a company specific level, Jefferies says Flutter attracts
ever-increasing investor interest, boosted by its primary
listing in New York and capital markets day in September which
included updated guidance.
The firm rates Entain, Evolution, Better Collective, Evoke
and Kambi Group with 'buy' ratings, while Lottomatica remains
its top pick among mid-cap operators for 2025.
(Samuel Indyk)
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MONDAY'S OTHER LIVE MARKETS POSTS:
THE ECB IS WIDE OPEN TO CUTTING RATES BELOW NEUTRAL - BOFA
CLICK HERE
EUROPE BEFORE THE BELL: FUTURES SOFT AT START OF CENTRAL
BANK HEAVY WEEK CLICK HERE
CHINESE CONSUMERS SHUT UP SHOP
CLICK HERE
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European shares mostly lower https://reut.rs/41ESwJd
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