European gambling stocks rise as UK machine duty hike falls short of feared level and Italy seeks €700M
Seven of ten tracked European gambling stocks gained in the week to 30 October 2026, helped by a UK machine games duty rise to 25% that was smaller than feared. Italy's Cabinet also approved a €700 million gambling contribution.
GamblingSource: European Gaming
Seven of the ten European gambling stocks tracked by European Gaming finished the week to 30 October 2026 higher, while the FTSE 100 added 0.37%. Evoke, which joined the tracker this week, led the gainers with a 10.69% rise to 46.6p.
The main driver was the UK Budget of 28 October, which lifted machine games duty to 25% from 20% from 1 April 2027. The higher rate covers machines with stakes above £1 or prizes above £100 and will be legislated in the Finance Bill 2026-27. Some in the industry had feared a rise to 40%. Rank Group closed 11.66% higher on Budget day and finished the week up 6.60% at 84p. Rank said the change would add roughly £9 million a year to its costs before mitigation, and about £2 million in the year to 30 June 2027. Entain, up 3.97% at 465.9p, put the annual cost to its UK and Ireland retail business at about £25 million before mitigation and left its 2026 guidance unchanged.
Other gainers included FDJ United, up 3.54% to €21.34 after touching a 52-week low of €19.45 on 22 October. Morgan Stanley trimmed its target on the stock to €23 from €24. Flutter rose 3.12% to $82.59 even as three brokers cut price targets ahead of its third-quarter update on 4 November; UBS lowered its target to $130 from $140, citing uncertainty over US competition and promotional spending. Lottomatica gained 3.10% to €25.92 and continued its buyback programme, taking treasury holdings to 8.545% of ordinary shares.
In Italy, the Cabinet approved a 2027 budget on 28 October that includes €700 million from the gambling sector, according to Prime Minister Giorgia Meloni.
Among the decliners, Playtech fell 4.45% to 356.2p with no trading news to explain the move. Betsson lost 2.62% to SEK 96.45, and Evolution slipped 2.04% to SEK 824.20, giving back part of its post-results gain. Pareto Securities said Brazil's betting ban was expected to weigh on Evolution's fourth-quarter revenue.
In Brazil, Justice Luiz Fux called a public hearing on the betting ban for 3 November but did not rule on the request to suspend it. Sportradar, up 0.67% to $12.03, is due to report third-quarter results on 3 November.
Based on reporting by European Gaming.