Flutter cuts FY26 outlook by $160m after Brazil ban
Flutter’s Q3 revenue still rose 2% to $3.87bn despite the loss, the company said.
The hit
Flutter posted a $1.15 billion net loss for Q3, according to its results released on Wednesday, after a non-cash impairment tied to Brazil’s betting ban. Adjusted EBITDA fell 25% to $360 million, & the company cut its full-year guidance, citing the Brazil shutdown & poor sports results in its US & International segments.
Why it matters
The Brazil shutdown has wiped a chunk of value off a market Flutter bought into last year for $356 million. CEO Dan Taylor said Flutter’s operations there are closed & it has paused all discretionary & uncommitted spend.
The record
| Q3 net loss | $1.15bn (Flutter), up from $789m in Q3 2025 |
|---|---|
| Brazil impairment charge | $873m non-cash, $537m tied to Flutter’s 56% stake in Flutter Brazil |
| FY26 guidance cut | revenue midpoint down $300m to $17.61bn; EBITDA down $160m to $2.495bn |
| FanDuel US adjusted EBITDA | down 94% to $3m (Flutter), attributed to prediction-market investment & its July Alberta launch |
| UK&I jobs at risk | up to 1,400 roles in restructure announced last month |
What happens next
Watch Flutter’s next quarterly update for signs of a resumed Brazil presence if regulation shifts, & for progress on the $500m cost-saving plan Taylor has targeted for 2029.
Sources: Flutter cuts FY26 guidance as Brazil impairment widens Q3 net loss
18+. Betting involves risk. If gambling is a problem for you or someone close to you, help is available.
Work with BH Group. Paid ads that get iGaming & crypto brands players & users, in the GEOs you choose. Get a plan
Discussion
Ask a question, add useful context or share a source. Keep it relevant & respectful.
Add a comment
Comments are reviewed before publication.