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How to play Big Win Cat
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.
How to play Big Win Cat
What matters here isn’t the theme. It’s what the release says about where NetEnt is heading with its product line. Demon Beats is built around the studio’s Avalanche cascade system, the same core engine behind some of NetEnt’s most recognizable titles.
At its heart, Demon Beats uses the familiar Avalanche mechanic, where winning symbols clear and get replaced by new ones until no further wins appear. That cascade ties into a climbing multiplier ladder; the ladder resets on empty spins and steps up to far higher values once free spins begin.
The more distinctive layer is the game’s use of 2×2 colossal symbols and a Battle feature, in which colossal and Wild symbols land to cover a Battle symbol after a non-winning spin. These additions don’t reinvent NetEnt’s math. They extend the cascade model with bigger blocks and a triggered mini-sequence, keeping the release familiar to players who know the studio’s earlier Avalanche games.
How to play Big Win Cat
Online casino stood at £5.7 billion for the 12-month period, of which £4.8 billion was derived from slots. Remote betting came in at £2.4 billion, led by football (£1.2 billion) and horse racing (£769.3 million). Remote bingo GGY was at £147.8 million.
Quarterly data from January to March 2026 reinforced this trend, with online verticals generating £2.2 billion, and remote casino alone accounting for 68.3% (£1.5 billion) of that total.
The first quarter of 2026 saw a total industry GGY of £4.4 billion including lotteries, or £3.4 billion excluding lotteries.
