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For the gaming industry, the marked economic shift over the course of 2026 and a return to an elevated interest-rate environment after years of post-Covid easing could dissipate some of the optimism that prevailed at the onset of this year.

Many top gaming stocks have underperformed relative to the broader market in recent years, and most of the M&A activity has been facilitated by private equity and other institutions that can more readily capitalise on depressed valuations. There had been hope that rates would start to fall and help alleviate those pressures.

“Publicly traded valuations are a reflection of the current interest rate environment,” Chad Beynon, lead gaming analyst for Macquarie, told iGB. “Whether it’s a long-term financial model on a growth company, you’re going to discount that back at a higher rate, or if it’s just a standard four-wall business, the cash flows in a higher interest rate environment are worth less.”

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Non-remote betting was reported at £2.4 billion (down 3.3%) with non-remote casinos at £933.9 million (up 0.4%) and non-remote bingo at £703.8 million (up 8.2%).

Gaming machines in arcades recorded £800.1 million in GGY (up 10.7%), mainly across adult gaming centres (£761.4 million, +11.3%). Gaming machines overall contributed £2.7 billion to GGY, reflecting a 4.3% uplift. 

The number of gaming machines in licensed premises in the final quarter was reported at 191,804.

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The studio has also carried its side-bet layer into the sequel. The slot also introduces a Side Hustles system, which functions as an optional stake increase tied to specific outcomes. Taken together, the expanded upgrades, buy options, and side bets suggest Nolimit City is refining a repeatable framework across sequels rather than reinventing its approach each release.

For players familiar with the first Duck Hunters, the takeaway is continuity with a raised ceiling. For those tracking Nolimit City’s portfolio, the sequel is evidence of a studio comfortable returning to proven mechanical families and layering additional monetization and volatility on top. That pattern fits the broader direction of a slots market increasingly built around recognizable, iterated math models rather than one-off novelties.

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