UK & Ireland growth masks 4% international slide at Entain

Entain still held FY2026 guidance despite the Brazil hit, with group NGR up 2% in Q3.

The hit

Entain’s Brazil revenue fell 36% in Q3 2026, according to the company’s trading update. Brazil’s new online betting ban took effect in the final days of the quarter, but Entain said the decline primarily reflected “disciplined marketing and player engagement in an increasingly challenging market.” Group net gaming revenue still rose 2%, helped by UK & Ireland online growth of 14%.

Why it matters

Entain said its 15% growth in underlying online volumes in the UK & Ireland reflected a gain in market share. The company said future guidance assumes Brazil’s ban stays in place for the rest of 2026. CEO Stella David said her “best guess” is that the market would reopen in “some form or another,” & that its Brazil brand Sportingbet’s brand strength would help if it does.

The record

International NGR	down 4% in Q3 2026 (Entain)
FY2026 underlying EBITDA guidance	£910m-£960m, expected at lower end (Entain)

What happens next

Watch for any move by Brazilian regulators to reopen the market.

Sources: Entain Revenue Rises 2% as UK Growth Offsets Brazil Slump – Casino.org

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