Entain Cuts Online Revenue Outlook After Brazil Ban
Entain, the owner of Ladbrokes and Coral, cut its online net gaming revenue growth forecast on September 28, 2026 to a range of 4% to 6% on a constant currency basis, after Brazil's executive order banning online sports betting and gaming operations, according to Reuters.
The order, signed by President Luiz Inacio Lula da Silva, prohibits online betting operations in Brazil less than two years after the government introduced the legal framework that allowed the industry to operate there.
Profit Guidance Also Trimmed
Entain said it now expects its 2026 group underlying core profit to land at the lower end of its previous forecast range of 910 million pounds to 960 million pounds, equivalent to roughly 1.20 billion dollars to 1.27 billion dollars at current exchange rates.
Its online underlying core profit margin forecast is also expected to come in at the bottom of the previously guided 21% to 22% range.
Entain has built up a Brazilian presence across its betting sites and online casino operations since the market opened, and the abrupt closure removes that revenue from the group's near-term outlook entirely.
Part Of A Wider Operator Retreat
Entain's guidance cut follows a similar move by Danish affiliate group Better Collective, which slashed its 2026 outlook and suspended its share buyback programme days earlier after the same Brazilian order.
Both companies cited the same provisional measure as the reason they can no longer count on Brazilian betting or casino revenue for the rest of the year.
The scale of the reaction from two separately listed companies within days of each other underlines how quickly the Brazilian shutdown has fed through to operator financial guidance across the sector.
Casino Games Hub
Brazil Was Already Softening For Entain
Entain's own 2026 interim results, published August 13, 2026, had already shown Brazil net gaming revenue down 25% at constant currency for the first half of the year, which the company attributed at the time to a highly adverse first-quarter sports margin.
The September 28 guidance cut confirms that any recovery in the Brazilian business is now off the table for the rest of 2026, since the market itself has been shut down rather than merely softening.
Entain's most recent results also showed UK and Ireland online net gaming revenue growth of 13% at constant currency, with Australia growing 13% and double-digit online growth in Canada, New Zealand and Spain.
Those regions are unaffected by the Brazilian order and continue to anchor the group's guidance even as Brazil drops out of the 2026 outlook entirely.
