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Public Comps and Valuation Multiples for Online Betting

Benchmark revenue and EBITDA valuation multiples for public comps like
Aristocrat Leisure, Flutter Entertainment, Evolution, DraftKings and Allwyn.

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Online Betting

Viewing 50 of 60 companies with full data

Company	Market Cap	Enterprise Value	LTM Revenue	EV/LTM Revenue	EV/LTM EBITDA
Aristocrat Leisure	$20B	$21B	$4B	4.8x	11.5x
Flutter Entertainment	$18B	$27B	$17B	1.6x	9.4x
Evolution	$14B	$12B	$2B	5.1x	7.6x
DraftKings	$13B	$13B	$6B	2.1x	19.7x
Allwyn	$11B	$12B	$5B	2.6x	6.4x
The Lottery Corporation	$9B	$10B	$3B	3.7x	18.2x
Lottomatica Group	$8B	$10B	$3B	3.7x	9.5x
Super Group SGHC	$7B	$6B	$2B	2.7x	10.3x
Churchill Downs	$6B	$11B	$3B	3.7x	8.9x
OPAP Holding	$6B	$7B	$5B	1.5x	3.6x
FDJ United	$5B	$7B	$4B	1.5x	6.4x
Entain	$5B	$10B	$7B	1.3x	6.2x
Rush Street Interactive	$3B	$3B	$1B	2.0x	13.7x
Cirsa Enterprises	$3B	$4B	$3B	1.5x	4.8x
Bally's Intralot	$2B	$4B	$1B	3.2x	8.3x
Brightstar Lottery	$2B	$5B	$3B	2.1x	4.6x
Playtech	$1B	$1B	$901M	1.4x	5.2x
Betsson	$1B	$1B	$1B	0.8x	3.3x
Tabcorp	$1B	$2B	$2B	0.9x	5.8x
ZEAL Network	$1B	$1B	$269M	4.3x	14.0x
Genius Sports	$1B	$1B	$777M	1.3x	5.6x
DigiPlus Interactive	$1B	$733M	$2B	0.3x	3.6x
Accel Entertainment	$947M	$1B	$1B	0.9x	5.8x
Tokyotokeiba	$913M	$885M	$274M	3.2x	6.1x
Better Collective	$850M	$1B	$409M	2.8x	9.2x
Intralot	$665M	$311M	$1B	0.2x	0.6x
Rank Group	$624M	$848M	$1B	0.7x	5.1x
Intertain Group	$579M	$983M	—	—	—
Tsuburaya Fields Holdings	$565M	$393M	$1B	0.4x	3.2x
Sports Toto	$438M	$725M	$2B	0.5x	6.9x
Kambi Group	$426M	$401M	$193M	2.1x	6.7x
Codere Online	$405M	$340M	$265M	1.3x	19.2x
Pollard Banknote	$355M	$461M	$447M	1.0x	5.0x
Ainsworth Game Technology	$316M	$331M	$207M	1.6x	10.0x
PhilWeb	$230M	$234M	—	—	—
Inspired Entertainment	$212M	$523M	$287M	1.8x	4.6x
Evoke	$211M	$2B	$2B	1.0x	5.2x
Gambling.com Group	$159M	$266M	$168M	1.6x	4.8x
Telematic Interactive	$156M	$156M	—	—	—
BetMakers	$153M	$134M	$66M	2.0x	20.3x
BlueBet Holdings	$139M	$138M	$103M	1.3x	(34.7x)
Gaming Realms	$132M	$109M	$42M	2.6x	5.5x
Canterbury Park	$82M	$65M	—	—	—
High Roller Technologies	$78M	$77M	$20M	3.7x	—
Bragg Gaming Group	$55M	$56M	$121M	0.5x	2.9x
Galaxy Gaming	$47M	$82M	—	—	—
GiG Software	$42M	$36M	$47M	0.8x	4.8x
Apple iSports Group	$36M	$39M	—	—	—
Pferdewetten	$33M	$36M	—	—	—
Racing and Sports	$22M	$19M	$20M	0.9x	10.4x
Bet-At-Home	$21M		$58M
Catena Media	$20M		—
Acroud	$20M		—
Gaming Corps	$14M		—
B90 Holdings	$14M		$9M
Mediacle Group	$8M		—
Blick Global Group	$1M		—
Rivalry	$319K		—
Byhmgard	$182K		—
Esports Entertainment	$172K		—