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About The Rave
Flutter has arguably the strongest online franchise of the four. Its share price fell from $282.33 on 18 September 2025, to $89.56 on 18 September this year, with a market valuation of $15.54 billion.
FanDuel remains the leading US sportsbook, while Flutter’s international businesses provide additional sources of growth. But that quality comes with high expectations.
Beynon describes Flutter as “the highest-quality online betting franchise globally”, with FanDuel’s leadership position providing “significant long-term value”. The problem is that the market is increasingly questioning how much future earnings growth can be generated from that position as the industry matures.
About The Rave
“We’re still early,” he says. “The priority is to prove the model properly; make sure the games perform and demonstrate that it works commercially. If we do that, I think the opportunity is significant.”
Five years from now, Curwen expects the development landscape – and the studios operating within it – to look markedly different.
“I don’t think the successful studio of the future necessarily has hundreds of people,” he says. “It could be a relatively small group of extremely talented people with great ideas, strong brands and a very good understanding of players, supported by technology that does much of the heavy lifting.”
How to play The Rave
For operators, that consistency has practical value. A recognizable, high-output supplier with deep coverage of proven themes gives casino lobbies dependable filler content that players already understand at a glance.
3 Aztec Spells slots into that logic. It expands Spinomenal’s coverage of a durable theme category without requiring the studio to teach players anything genuinely unfamiliar.
The broader takeaway is about production strategy rather than innovation. Spinomenal’s catalog shows a provider that competes largely on breadth and speed, keeping a wide variety of themes live and continually topping them up.
