Looking back on casino operator stocks’ Q3 earnings, we examine this quarter’s best and worst performers, including Flutter Entertainment (NYSE: FLUT) and its peers.

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. On average, they are relatively unchanged since the latest earnings results.

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. This print fell short of analysts’ expectations by 1.4%, but it was still a satisfactory quarter for the company with an impressive beat of analysts’ EBITDA estimates but a significant miss of analysts’ EPS estimates.

Unsurprisingly, the stock is down 8.6% since reporting and currently trades at $205.22.

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

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, outperforming analysts’ expectations by 9.2%. The business had an incredible quarter with an impressive beat of analysts’ EBITDA estimates and a solid beat of analysts’ adjusted operating income estimates.

Super Group scored the fastest revenue growth among its peers. The company added 11,666.667 customers to reach a total of 5.51 million. Although it had a fine quarter compared its peers, the market seems unhappy with the results as the stock is down 16.5% since reporting. It currently trades at $10.12.

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

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 11.5% since the results and currently trades at $34.53.

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

Caesars Entertainment (NASDAQ: CZR)

Formerly Eldorado Resorts, Caesars Entertainment (NASDAQ: CZR) is a global gaming and hospitality company operating numerous casinos, hotels, and resort properties.

Caesars Entertainment reported revenues of $2.87 billion, flat year on year. This result lagged analysts' expectations by 0.9%. It was a softer quarter as it also logged a significant miss of analysts’ EPS estimates and a miss of analysts’ EBITDA estimates.

The stock is up 12.5% since reporting and currently trades at $24.85.

Read our full, actionable report on Caesars Entertainment here, it’s free.

Wynn Resorts (NASDAQ: WYNN)

Founded by the former Mirage Resorts CEO, Wynn Resorts (NASDAQ: WYNN) is a global developer and operator of high-end hotels and casinos, known for its luxurious properties and premium guest services.

Wynn Resorts reported revenues of $1.83 billion, up 8.3% year on year. This print beat analysts’ expectations by 3.4%. However, it was a slower quarter as it logged a miss of analysts’ Dining and Entertainment revenue estimates and a significant miss of analysts’ EPS estimates.

The stock is down 5.1% since reporting and currently trades at $116.33.

Read our full, actionable report on Wynn Resorts here, it’s free.

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