iGaming Stocks Surge After Trump’s Tariff Pause
iGaming stocks took off like a rocket yesterday, riding a massive market wave after President Trump announced a 90-day pause on tariffs. Overall, the S&P 500 jumped 9.52%, the Dow climbed 7.87%, and the Nasdaq soared 12.16%, marking Wall Street’s wildest trading day ever with 30 billion shares swapped.
A Big Day for Betting Stocks
Most iGaming players saw double-digit gains, from Bally’s jaw-dropping 32.88% leap to DraftKings’ solid 12.39% climb. Only Better Collective bucked the trend, dipping 1.72%. Investors cheered the tariff breather, and iGaming firms cashed in big.
Here’s how the stocks stacked up:
| Company | % Change |
|---|---|
| Flutter Entertainment | +11.37% |
| DraftKings | +12.39% |
| Penn Entertainment | +18.40% |
| Sportradar | +8.24% |
| Bally’s | +32.88% |
| Caesars Entertainment | +17.27% |
| MGM Resorts | +16.05% |
| Genius Sports | +10.50% |
| IGT | +10.46% |
| Gambling.com | +8.06% |
| Catena Media | +8.66% |
| Better Collective | -1.72% |
Flutter Entertainment (FLUT) kicked off at $214.04 and closed at $236.67. DraftKings (DKNG) went from $32.15 to $35.84. Penn Entertainment (PENN) roared from $13.55 to $16.28. Caesars Entertainment (CZR) climbed from $23.38 to $27.57. MGM Resorts (MGM) rose from $25.63 to $29.93.
Bally’s (BALY) stole the show, rocketing from $11.55 to $15.80. Smaller names like Genius Sports (GENI) and IGT (IGT) hit $9.58 and $15.95. Affiliates Gambling.com (GAMB) and Catena Media (CTM.ST) closed at $12.47 and 2.195 SEK.
Why the Boom?
Trump’s tariff suspension flipped the script. Before April 09, markets wobbled under tariff threats, with gambling stocks feeling the heat from shaky consumer spending and soft Q1 vibes.
The 90-day pause, announced midday, sparked a rally that hit iGaming hard and fast. Analysts say the pause eases pressure on tourism and cash flow, key for casino giants like Caesars and MGM, while online bets via DraftKings and Flutter get a confidence boost.
Bally’s 32.88% spike stands out, trouncing the S&P’s 9.52% climb. No clear trigger beyond the tariff news popped up, but whispers of investor bets on its online growth might’ve fueled the fire.
Volume hit historic highs, per CNBC, showing real muscle behind the gains. For iGaming, the tariff pause could mean smoother sailing. Companies like Penn and Bally’s, leaning into online plays, might ride this wave longer if consumer wallets loosen up.
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