Entain Warns Brazil Betting Ban Could Hit 2026 Online Gaming Growth
FLUT is trading near its 52-week low of $78.898 (6.1% above the low).
Summary
Entain, owner of Ladbrokes, warned that Brazil's ban on online betting could reduce its 2026 online net gaming revenue growth to 4-6%, down from prior expectations. The company said Brazil was expected to contribute about 5% of online NGR in 2026. Entain now expects underlying core profit at the lower end of its £910M-£960M guidance range and margin at the lower end of 21-22%. The ban, announced last week by President Lula, revokes online betting licences and requires congressional approval within 120 days. Entain shares fell 1.7% to 441.9 pence. Flutter Entertainment, which operates FanDuel and has significant Brazil exposure, is likely to face similar headwinds. This follows Flutter's Q2 net loss of $296M and CEO transition announced in August. Watch for Flutter's response to the Brazil ban and any guidance updates.
At the time of this announcement, FLUT was trading at $83.70 on NYSE in the Trade & Services sector, with a market capitalization of approximately $14.4B. The 52-week trading range was $78.90 to $284.87. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Reuters.