Major Gambling Stocks Slide Ahead of Super Bowl

Major gambling companies have observed a downturn in their stock performance in the period preceding the Super Bowl. This trend signals a challenging period for the industry's prominent players.

Flutter Entertainment Plc, the entity managing the widely used FanDuel application, has recorded an eight-week consecutive decline in its stock. This marks the longest such negative trend for the company in 23 years.

Meanwhile, DraftKings, a significant competitor in the online betting space, is also navigating a difficult market. The company is currently trading at levels near its 2023 lows, reflecting a substantial more than 60% reduction from its peak stock value five years prior.

Major gambling companies have observed a downturn in their stock performance in the period preceding the Super Bowl.