As the craze of earnings season draws to a close, here’s a look back at some of the most exciting (and some less so) results from Q3. Today, we are looking at casino operator stocks, starting with Super Group (NYSE: SGHC).

Casino operators enjoy limited competition because gambling is a highly regulated industry. These companies can also enjoy healthy margins and profits. Have you ever heard the phrase ‘the house always wins’? Regulation cuts both ways, however, and casinos may face stroke-of-the-pen risk that suddenly limits what they can or can't do and where they can do it. Furthermore, digitization is changing the game, pun intended. Whether it’s online poker or sports betting on your smartphone, innovation is forcing these players to adapt to changing consumer preferences, such as being able to wager anywhere on demand.

The 11 casino operator stocks we track reported a slower Q3. As a group, revenues beat analysts’ consensus estimates by 1.9%.

In light of this news, share prices of the companies have held steady as they are up 2.8% on average since the latest earnings results.

Best Q3: Super Group (NYSE: SGHC)

With betting operations spanning 20 jurisdictions and attracting nearly 5 million monthly customers, Super Group (NYSE: SGHC) operates global online sports betting and gaming platforms through its two primary offerings: the Betway sports betting brand and Spin multi-brand casino portfolio.

Super Group reported revenues of $557 million, up 25.7% year on year. This print exceeded analysts’ expectations by 9.2%. Overall, it was an incredible quarter for the company with an impressive beat of analysts’ EBITDA estimates.

Neal Menashe, Chief Executive Officer of Super Group, commented: “We are incredibly pleased with our Q3 performance, which highlights the continued strength of our global platform and consistent execution across our core markets. Despite customer-friendly outcomes in September, we delivered record-level customer engagement, strong revenue growth, and margin expansion. Hitting six million monthly active customers was another significant milestone, a reflection of our product innovation and local execution. With continued momentum into Q4, and the highly anticipated launch of Super Coin, we are focused on driving long-term value for our shareholders and enhancing our global position.”

Super Group achieved the fastest revenue growth of the whole group. The company added 11,666 customers to reach a total of 5.51 million. Investor expectations, however, were likely higher than Wall Street’s published projections, leaving some wishing for even better results (analysts’ consensus estimates are those published by big banks and advisory firms, not the investors who make buy and sell decisions). The stock is down 3.4% since reporting and currently trades at $11.71.

Is now the time to buy Super Group? Access our full analysis of the earnings results here, it’s free for active Edge members.

Flutter Entertainment (NYSE: FLUT)

With its digital fingerprints on nearly every aspect of global gambling, from the Super Bowl bettor to the online poker aficionado, Flutter Entertainment (NASDAQ: FLUT) operates a portfolio of leading online sports betting and gaming brands including FanDuel, PokerStars, Paddy Power, and Sky Betting & Gaming.

Flutter Entertainment reported revenues of $3.79 billion, up 16.8% year on year, falling short of analysts’ expectations by 1.4%. However, the business still had a satisfactory quarter with an impressive beat of analysts’ EBITDA estimates but a significant miss of analysts’ EPS estimates.

Although it had a fine quarter compared its peers, the market seems unhappy with the results as the stock is down 2.4% since reporting. It currently trades at $219.17.

Is now the time to buy Flutter Entertainment? Access our full analysis of the earnings results here, it’s free for active Edge members.

Weakest Q3: MGM Resorts (NYSE: MGM)

Operating several properties on the Las Vegas Strip, MGM Resorts (NYSE: MGM) is a global hospitality and entertainment company known for its resorts and casinos.

MGM Resorts reported revenues of $4.25 billion, up 1.6% year on year, in line with analysts’ expectations. It was a disappointing quarter as it posted a miss of analysts’ Hotel revenue estimates and a significant miss of analysts’ adjusted operating income estimates.

Interestingly, the stock is up 17.8% since the results and currently trades at $36.50.

Read our full analysis of MGM Resorts’s results here.

Monarch (NASDAQ: MCRI)

Established in 1993, Monarch (NASDAQ: MCRI) operates luxury casinos and resorts, offering high-end gaming, dining, and hospitality experiences.

Monarch reported revenues of $142.8 million, up 3.6% year on year. This print missed analysts’ expectations by 1.7%. Zooming out, it was a mixed quarter as it also produced a beat of analysts’ EPS estimates but a miss of analysts’ Dining revenue estimates.

Monarch had the weakest performance against analyst estimates among its peers. The stock is down 1.3% since reporting and currently trades at $95.96.

Read our full, actionable report on Monarch here, it’s free for active Edge members.

PENN Entertainment (NASDAQ: PENN)

Established in 1982, PENN Entertainment (NASDAQ: PENN) is a diversified American operator of casinos, sports betting, and entertainment venues.

PENN Entertainment reported revenues of $1.72 billion, up 4.8% year on year. This result came in 0.5% below analysts' expectations. It was a disappointing quarter as it also logged a significant miss of analysts’ EBITDA and EPS estimates.

The stock is down 10.7% since reporting and currently trades at $14.60.

Read our full, actionable report on PENN Entertainment here, it’s free for active Edge members.

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