Entain feels bite of Brazil’s gambling ban, CEO remains bullish
International gambling group Entain has reported a 36% decline in Brazilian net gaming revenue during the third quarter of 2026, revealing the immediate financial impact of the country’s controversial ban on online gambling.
The owner of Ladbrokes, Coral and Sportingbet published its quarterly trading update on October 15, confirming that stronger results in the United Kingdom and several other markets had helped offset the deterioration in Brazil.
Group net gaming revenue increased 2% during the three months ended September 30, while online net gaming revenue rose 3%, but, the company’s Brazilian operations suffered a sharp decline after Entain began complying with the government’s provisional gambling prohibition on September 25.
The ban has disrupted what had become one of the world’s most closely watched regulated online betting markets, after brazil introduced its federal licensing system for online sports betting and casino gaming in January 2025.
The market attracted substantial investment from international operators before the government moved to prohibit online gambling through a provisional measure in September 2026.
UK growth helps offset Brazil losses
Entain’s United Kingdom and Ireland operations performed ahead of expectations during the quarter, with bet gaming revenue in those markets increasing 8%, supported by a 14% increase in online revenue.
The company also reported double-digit online revenue growth in New Zealand, Spain and Canada, with these markets helping offset Brazil and show a total increase of 5% in net gaming revenue.
The group maintained its financial guidance for 2026 despite the challenges in Brazil and unfavourable sporting results.
Chief executive Stella David said the quarterly performance demonstrated the resilience of the company’s international operations.
“I am pleased with our Q3 performance which reflects the strength of our execution and reinforces the resilience of our globally scaled business as well as its ability to consistently deliver high-quality growth,” she said.
“Both online and retail are important parts of our business and valued contributors to tax revenues and local communities. We strongly urge the UK Government to carefully consider any further gambling tax increases which would threaten the viability of many shops, jobs and livelihoods.
“The underlying momentum we are seeing across our diverse portfolio supports our confidence in reiterating FY26 guidance. I am confident our disciplined focus on growth and optimisation will deliver strong future cash-generation, and that Entain remains well positioned to be a long-term industry winner.”
The results also come ahead of the United Kingdom’s Autumn Budget, where potential increases to gambling taxation have become a major concern for betting operators.
Entain has warned that higher taxes on gambling machines could place additional pressure on its retail betting business.
