Flutter, Rank Group and Entain Shares Advance in October Despite Tax Rises and Market Exits

Several listed gambling operators delivered share price gains even as UK tax changes, job reductions and market withdrawals took effect. Flutter Entertainment stock rose 8 percent to $82.59, Rank Group climbed 13.6 percent to 84.4p and Entain advanced 14.5 percent to £4.71. Investors responded to the milder-than-expected Machine Games Duty increase from 20 percent to 25 percent rather than the 40 percent some had feared.

Flutter Entertainment Gains on Analyst Upgrade and Court Ruling

Citi analyst Monique Pollard upgraded her rating on Flutter Entertainment from neutral to buy early in the month. The move reflected opportunities after a 62 percent year-to-date decline earlier in 2026. A Ninth Circuit Court of Appeals decision that Nevada may regulate Kalshi sports event contracts as gambling further improved sentiment toward licensed operators. Flutter Entertainment still implemented 1,400 job cuts in the UK, closed Betfair in Italy and exited India entirely.

Relief Rally for Rank Group and Entain

Entain also benefited from its BetMGM joint venture with MGM Resorts. The venture reported adjusted EBITDA growth of 112 percent year-on-year, producing a 5 percent intraday share price lift. Entain shares nevertheless sit 38 percent lower so far in 2026 on the London Stock Exchange. Other listed companies showed varied results, including Genius Sports up 11.97 percent, DraftKings up 8.06 percent, as detailed in reporting by SBC News.

The pattern indicates investors distinguished between anticipated severe measures and the actual 5 percent duty increase. Execution risks remain as operators absorb higher costs while managing exits from Brazil, Italy and India. The coming quarters will test whether these October gains reflect sustained confidence or temporary relief.