The escalating tensions in the Middle East took a toll on global stock markets, and the S&P 500 Index fell 1.9% last week, extending its losing streak for the fourth consecutive week. The Roundhill Sports Betting & iGaming ETF too tumbled, falling 1.88% last week, as investors continued to rotate out of high-beta names amid market volatility.
Bragg Gaming Group and Century Casinos were among the biggest gainers last week, while Skillz Inc and Genius Sports were the biggest losers.
Biggest Gainers
Bragg Gaming Group (NYSE: BRAG) +40%
Bragg Gaming Group was by far the biggest gainer in our coverage of gaming stocks last week as it rose 40% to defy the pessimism in broader markets. Last week’s gains were driven by its strong Q4 2025 earnings. While the company’s revenues rose only about 1.9% year-over-year, its sales in Brazil rose an impressive 42.1%, while recurring revenues in the U.S. increased by 55%.
Investors reacted positively to the fact that high-margin proprietary content now accounts for a larger share of Bragg’s revenue mix (up 20.8% YoY), offsetting regulatory headwinds in the Netherlands. Bragg’s operating loss also narrowed to €0.1 million compared to €0.7 million in the corresponding quarter last year.
The company announced the appointment of iGaming veteran Thomas Winter to its Board of Directors. Winter is well-known for founding Golden Nugget Online Gaming and overseeing its $1.5 billion acquisition by DraftKings. His arrival is seen as a major win for the company’s North American expansion strategy.
The company also announced a pivot to artificial intelligence (AI), with the goal of making AI-enhanced products the standard for 90% of all future launches in 2027. It also announced a cost-cutting program and said that it would lower its global workforce by 12%. The earnings report triggered a rally in BRAG stock and helped it recoup its 2026 losses.
Century Casinos (NYSE: CNTY) +3.05%
Century Casinos was among the major gainers last week, rising 3% despite broader market turmoil. Last week’s gains look like a technical rebound after the brutal sell-off in the preceding week. That week, CNTY was among the major losers, as the stock plunged over 9% after the company missed both top-line and bottom-line estimates for Q4 2025.
The loss-making company is considering “strategic alternatives,” including the sale of its Polish operations.
Rush Street Interactive (NYSE: RSI) +2.22%
Rush Street Interactive stock rose over 2% last week, extending its year-to-date gains to 6.5%. There wasn’t any major company-specific news last week, but the stock has looked strong in recent weeks after reporting strong Q4 2025 earnings in February. Brokerages have also turned incrementally bullish on the stock, and earlier this month, Freedom Capital initiated coverage with a “Buy” rating and a $25 target price.
Biggest Losers
Skillz Inc (NYSE: SKLZ) -17.54%
Skillz stock fell over 17% last week and extended its YTD loss to almost 38%. There wasn’t any major news related to the company, but the stock sold off amid the market meltdown, tumbling over 16% on Friday to hit a new 52-week low.
Skillz stock has been quite volatile and has been sliding since hitting a high of $9.11 in mid-August 2025. The loss-making company faced a setback last year after Tether Studios, the developer of the popular games Solitaire Cube and 21 Blitz, announced it would terminate its licensing agreements with Skillz.
As a high-beta meme stock with scant trading volumes and a market cap of just over $30 million, SKLZ is susceptible to wild price swings, making it a risky investment.
Genius Sports (NYSE: GENI) -15.01%
Genius Sports’ woes continue unabated, and it fell by over 15% last week. GENI is now down nearly 59% so far in 2026, and its stock price has plunged below $5, pushing it into the category of penny stocks.
The stock has looked weak since it reported Q4 2025 earnings earlier this month, which showed the company’s per-share loss was 8 cents, while consensus estimates called for a 3-cent profit. For the full year 2025, its net loss increased to $111.6 million, up from $63 million in 2024. This was largely blamed on “non-recurring expenses,” specifically stock-based compensation related to NFL warrants and litigation costs.
Moreover, it guided 2026 revenues to between $810 million and $820 million, which also fell well short of the $873 million that analysts had been modeling.
Markets are also apprehensive about the $1.2 billion acquisition of Legend that Genius Sports announced last month. Investors are concerned about the cost and the complexity of integrating such a large entity, and while management tried to justify the deal during the earnings call, it failed to cut ice with critics.
Huya (NYSE: HUYA) -9.79%
Huya also saw a nearly double-digit decline last week and made it to the list of major losers. The company released its Q4 2025 earnings last week, and while its revenues rose 16.2% to $248.6 million, it posted a net loss of $16.8 million, which was below analysts’ breakeven expectations.
Meanwhile, even as Huya has been posting losses, it held $546 million as cash and cash equivalents on its balance sheet at the end of 2025. During the earnings call, the company announced a special dividend of $0.135 per share and a new $50 million share buyback plan. These announcements, however, failed to mask the earnings miss, and the stock closed sharply lower last week.
Major Gaming Market Developments
Last week, MEXC launched its prediction market platform that lets users trade outcomes tied to sports, geopolitical, and crypto events with zero trading fees. While the industry is witnessing robust growth and attracting new players to the market, the regulatory environment has been hazy at best, and last week, a Nevada judge barred Kalshi from offering event contracts in the state.
Kalshi’s regulatory woes only amplified last week after Arizona became the first U.S. state to bring criminal charges against the company.
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The escalating tensions in the Middle East took a toll on global stock markets, and the S&P 500 Index fell 1.9% last week, extending its losing streak for the fourth consecutive week. The Roundhill Sports Betting & iGaming ETF too tumbled, falling 1.88% last week, as investors continued to rotate out of high-beta names amid
The post Gaming Stocks Come Under Pressure as Markets Crash Over Middle East Tensions appeared first on CasinoBeats.