Def Leppard Hysteria

What is Def Leppard Hysteria?

In 2025, Playtech agreed a partnership to provide a platform for the launch of Brazilian state-owned bank Caixa’s betting operations.

Weizer previously said the Caixa tender could be “one of the most significant opportunities for Playtech for the coming years”.

However, due to its role as a a state-owned bank, and ongoing scrutiny around betting in Brazil, Caixa has come under political pressure, and its launch in the market has been postponed on several occasions despite it having paid the BRL30 million ($5.9 million) licence fee.

How to play Def Leppard Hysteria

Initial reaction from investors was largely unfavourable. Genius shares plunged 13% on 18 Sept., falling 17% for the week. The data provider closed the session at $5.64 per share, well below the $6.19 price when it announced the Legend acquisition in February.

The launch of Prediction.com comes amid a strategic integration phase following Genius Sports’ acquisition of Legend. 

It coincided with the beginning of the NFL season in the US, viewed as a peak commercial period for sports data monetisation. Genius also maintains partnerships with DraftKings and FanDuel, both of which signed extensions to remain as NFL partners ahead of this season.

What is Def Leppard Hysteria?

According to Multiples.VC, the average enterprise multiple (EV/EBITDA) of top US-listed gaming companies is currently 10x. Data from New York University last updated in January pegged the overall market average at 23.9x and 19.7x among EBITDA-positive firms, suggesting the sector is undervalued relative to other industries. In a report released Monday, Fitch Ratings said most North American gaming companies hold “Stable” outlooks with “adequate rating headroom” despite consumer headwinds.

Macquarie’s Beynon agrees with that sentiment, pointing to the relative stability of gaming companies through tough economic stretches such as the Covid-19 pandemic. Bankruptcies in the sector have been low relative to the broader market, he notes, and both land-based and digital companies have reason for optimism moving forward.

“It’s certainly not lost on us that this sector has underperformed for several years in a row just because it doesn’t have either the growth of say, tech companies, or the perceived free cash flow-insulated businesses, which we believe it does…We’ve thought there’s been value in the sector for a few years, particularly this year,” he told iGB.