Citi sees prediction markets as key 2026 investor focus for EU betting firms
Citi deems prediction markets as key for the betting industry in 2026, although it does not see any fundamental change in the sector
The broker names betting firm Entain ENT.L and Swedish online casino operator Hacksaw HACK.ST as top picks, citing Entain's undervaluation, strong momentum at its online net gaming revenue, and expecting Hacksaw to maintain strong growth trajectory
Near-term, it expects Flutter Entertainment FLTRF.L and Entain shares to react to prediction markets news flow; flags Flutter's entry into the space with FanDuel predict app, and Entain's lack of plans to do so
It cuts Evolution EVOG.ST to "neutral" from "buy" due to the Swedish gaming company's continued headwinds from cyberattacks in Asia leaving little visibility for earnings in the medium-term
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