Macquarie Includes DraftKings, FanDuel Parent In Top Gaming Stocks


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Gaming stocks

Chad Beynon of Macquarie has picked DraftKings and FanDuel parent Flutter as two of his top gaming stocks for 2025.

He forecasts that online gaming, including both sports betting and online casino, will be the top gaming stock segment for 2025.

Growth should be around 25% this year, which is down compared to growth of up to 70% in past years, but he noted that several companies are close to hitting profit rates that will keep investors outside of gaming interested.

Targets, estimates for gaming stocks

Beynon included updated targets for most as well as estimates for digital EBITDA through 2027:

CompanyTarget (Change)2025 EBITDA(R)2026 EBITDA(R)2027 EBITDA(R)
Bally’sN/Anil$28 million$55 million
Boyd$74 (+$2)$84 million$92 million$96 million
Caesars$47 (-$3)$362 million$470 million$509 million
DraftKings$50 (-$1)$950 million$1.484 billion$1.960 billion
Flutter$340 (no change)$1.335 billion$1.951 billion$2.560 billion
Genius$13 (+$1)$113 million$151 million$199 million
MGM$50 (-$3)($11 million)$231 million$345 million
Penn Entertainment$26 (-$1)($69 million)$95 million$222 million
Rush Street Interactive$16 (+$1)$118 million$160 million$216 million

DraftKings the ‘best large-cap’ stock

DraftKings is the “best large-cap way to play the US online market” as it has first-mover advantage, top technology and brand recognition with younger demographics, Beynon said.

That top position should be safe given DraftKings continues to invest in its business and technology while also growing revenue by double digits, he added.

The stock benefits from positive online gaming trends right now, including higher sports betting hold and a lower cost of customer acquisitions.

More notes for top gaming stocks

Beynon also dropped in brief notes on each company featured in his 2025 primer:

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