Signal archive
Valuation signals
Vertical: every BrandCapitalWorks iGaming signal tagged Valuation. Each one carries the fact, the enterprise-value read, and the forecast. 2 signals.
Buyers used to pay for markets and licences. Now they pay for LTV and brand equity.
Scale and a licence used to set the price. Now the diligence is about whether the brand and the customers survive the integration. Gaming M&A is busy again in 2026, and the question buyers ask before they pay has changed. This week Kambi signed two multi-year deals, one with Pure Casino in Alberta and one with RETABET in Spain and Peru. Alberta reached 24 live operators just ten days after opening. What deal-makers now say out loud is simple: a licence and a market are no longer enough to set the price.
A famous bear just bought the sportsbooks. Is the story finally too cheap?
Flutter sits 65% below its August peak on a belief about the future, with revenue nowhere near that decline. On 10 July 2026 investor Michael Burry revealed bets on Flutter near $107 and DraftKings in the low $26s, weighted about 60/40 toward Flutter, on the view that regulators will crack down on CFTC event contracts. Flutter trades about 65% below its August high and DraftKings about 45% off its own high. Both are also building their own prediction-market products.
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