Flutter’s LSE exit yet to change fortunes as Bally’s tumbles

SBC Stock Ticker: Evolution up again as Flutter continues plight and Bally’s concerns emerge

Published on: September 1, 2026 Last updated: September 1, 2026, 10:43 AM

SBC Stock Ticker Visual, as August sees boosts for Genius and Evolution and falls for Flutter and Bally's

Credit: vectorfusionart / Shutterstock

August was a relatively positive month for gambling companies on the world’s various stock markets as many PLCs began to unveil the rewards reaped from the early stages of the 2026 World Cup.

A whole host of businesses, including Entain, Super Group and Flutter Entertainment, mentioned the positives brought about by the tournament as they announced their respective Q2 results.

Evolution has another winning month

It was a supplier which carried through its momentum from its positive Q2s in July that continued to see its shares rise during August, though.

Evolution, which has been the subject of a tame mandatory takeover offer from bullish gambling investor Kenneth Dart’s investment vehicle Candle Lake, was up by over 14% over the course of the month.

The firm’s share price closed the month at SEK832.60 and has now risen by around 33% so far this year.

It looks like a Candle Lake takeover is very unlikely, with both businesses on the same page – Candle Lake does not want a full takeover and Evolution’s board has already advised shareholders to reject the offer – but the company’s stock has continued to rise nonetheless.

A court date with fellow listed supplier Playtech later in the year will surely have an impact on Evolution’s reputation on the Nasdaq Stockholm, but for now 2026 continues to be a positive year for the firm.

Genius stock volatile but continues net positive trend

It was also another positive month on the whole for NYSE-listed, London-headquartered sportstech Genius Sports.

The company, led by Chief Executive Officer Mark Locke, has been fighting a battle to convince investors that its $1.2bn acquisition of Legend in February will pay off – and it seems that battle may be being won if the last few months are anything to go by.

While Genius’ stock continued to be fairly volatile, it jumped by 4.95% to $7.42 in the month of August. And although that may still be way off its 2021 peak of $24, it is a marked improvement when compared to April, a time when its stock dipped under the $4 mark.

The firm reported a $76.7m loss in Q2 but managed to tie up deals with prediction markets giants Kalshi and Polymarket, with Locke describing that particular sector’s growth as “very net positive” for Genius.

That huge loss for the quarter shows that there is still much work to be done at the company, but with synergies from the Legend acquisition coming through “faster than expected”, Genius seems to be in a much stronger place than investors may have anticipated earlier in 2026.

LSE exit doesn’t change Flutter’s stock trajectory

But it wasn’t all good news for gambling PLCs in August. Flutter Entertainment’s first month being an exclusively NYSE-listed group did not help to turn the tide of its tumbling share price.

Flutter’s stock declined by 5.45% during the month and closed at $100.18. This means that Flutter’s share price is now down by over 66% so far in 2026.

The operator, which owns a plethora of well-known gambling brands across the globe, also revealed a huge leadership change last month.

Peter Jackson, current CEO of Flutter Entertainment, is set to step down at the end of September and will be replaced by current Flutter International CEO and President Dan Taylor.

Despite the continuous decline, a $296m Q2 net loss despite the early impacts of the World Cup, and a drastic change in leadership, Jackson remained positive about Flutter’s prospects going forward.

In a fireside chat shortly after the company revealed its Q2 results, Jackson revealed that he is optimistic about Flutter eating up market share in the UK as mid-tier operators feel the impact of tax rises.

Jackson and Chief Financial Officer, Rob Coldrake, spoke glowingly about the firm’s operations in various international markets, including Brazil, Italy and Turkey, meaning it may not all be doom and gloom for Flutter.

It also comes as Dart and Candle Lake continue to increase their control in Flutter, so there are definitely some external investors who believe a turnaround is possible.

Bally’s debt worries investors

US giant Bally’s Corporation saw its shares tank in August. The firm noted developments in its Q2 results that concerned investors.

This included the potential scenario in which it runs out of cash as there is going concern over it being able to continue operating.

The firm does not project satisfying its liquidity maintenance requirement or the consolidated net leverage ratio covenants attached to its revolving credit facility over the coming year, and it is already carrying long-term net debt of over $4.4bn.

This led to shares in Bally’s falling by over 36% in August to $8.96 – an all time low since its 2024 IPO.