Betting firms Flutter and Entain warn of hit from Brazil's online betting ban
FLUT•Flutter said Brazil's online betting ban could cut its 2026 revenue by $70 million and adjusted core profit by $20 million. Entain expects 4%-6% online net gaming revenue growth in 2026 if the ban is upheld.
1. Companies assess impact
Flutter and Entain warned that Brazil's ban on online sports betting and gaming could dent their annual results if upheld. Flutter said it is reviewing its options, including a potential appeal.
2. Exposure and forecasts
Brazil accounted for 1% of Flutter's total revenue at the end of 2025, while Entain had expected the country to represent about 5% of its online net gaming revenue in 2026. Excluding Brazil, Entain said its 2026 online growth target would remain at the top end of its 5%-7% guidance range on a constant-currency basis; it forecast underlying core profit at the lower end of its previously guided £910 million to £960 million range. Brazil's provisional measure revokes online betting licences and requires congressional approval within 120 days to remain in force.
