Entain Q3 2026 Trading Update: Group NGR Up 2%, UK&I Outperforms
Entain plc reported Group net gaming revenue (NGR) up 2 percent at constant currency for the three months to September 30, 2026, in a 2026 Q3 trading update published on October 15, with the UK&I operations outperforming expectations and full-year guidance left unchanged.
UK&I Outperforms With Double-Digit Online Growth
UK&I NGR rose 8 percent for the quarter, ahead of expectations, with Online UK&I NGR up 14 percent on 15 percent volume growth.
Gaming NGR in the Online UK&I business grew 17 percent, while Sports NGR grew 3 percent.
Entain, which owns the Ladbrokes and Coral brands, said New Zealand, Spain and Canada also delivered double-digit Online NGR growth over the period.
Group Online NGR overall was up 3 percent, or 5 percent excluding Brazil, with strong Gaming growth of 8 percent partly offset by a roughly 1 to 2 percentage point sports margin headwind that Entain said knocked about 4 percent off Online growth for the quarter.
Brazil Ban Weighs On International Performance
International NGR fell 4 percent, with Brazil NGR down 36 percent after the country's immediate ban on online casinos and gambling, announced September 25, took effect before the end of the quarter.
Excluding Brazil, International Online NGR was up 1 percent. Retail NGR across the Group fell 2 percent despite a 2 percent rise in volumes, which Entain attributed to the same adverse sports results affecting the online business.
Entain's phased exit from its Central and Eastern European joint venture, Entain CEE, remains on track, with the announced divestment of an initial 20 percent stake expected to close during the fourth quarter of 2026.
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FY26 Guidance Reiterated Amid UK Tax Pressure
Entain reiterated its full-year 2026 guidance, which assumes the Brazil ban remains in place for the rest of the year.
The company still expects Online NGR growth of 4 to 6 percent at constant currency, or the top end of a 5 to 7 percent range excluding Brazil, with Underlying EBITDA excluding parent company fees landing at the lower end of a £910 million to £960 million range.
Chief executive Stella David said the quarter's performance reflected the resilience of Entain's diversified global portfolio and reinforced confidence in the full-year outlook, while also calling on the UK government to weigh carefully any further increases in gambling taxation, given the pressure they would put on shops, jobs and local communities.
The update follows a string of UK operators flagging the cumulative impact of the 2026 gaming and sports betting duty increases on margins.
Separately, Entain confirmed that BetMGM, its US joint venture with MGM Resorts, has reaffirmed its FY26 net revenue and adjusted EBITDA guidance ranges, with both expected to be toward the lower end.
