Entain Holds FY26 Profit Guidance Despite Brazil Betting Ban
Entain has held its full-year profit guidance despite Brazil’s sudden ban on online betting, but confirmed the target will now land at the bottom of its range.
Entain (LON: ENT), the FTSE 100 sports-betting and gaming group behind Ladbrokes, Coral, bwin and Eurobet, confirmed this morning that it is maintaining its full-year profit guidance despite Brazil’s sudden ban on online betting. Entain said Brazil made up only around 5% of group online revenue, with an even smaller share of profit.
Shares closed at 449.6p on Friday, near the bottom of their 52-week range of 443.9p to 876.80p, having already fallen from 502.6p on 17 September before today’s announcement landed.
Brazil published a provisional executive measure on Friday withdrawing all operators’ authority to offer online sports betting and gaming, with immediate effect. Entain said its Brazilian operations are complying, and that it was disappointed the measure arrived without industry consultation. The ban is only provisional: Brazil’s Congress has 120 days to approve, reject or amend it, so the final outcome is still unresolved.
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Because Brazil represented only about 5% of group online net gaming revenue, the money kept after paying out winnings, and an EBITDA contribution management already called modest given a tough competitive market, Entain reconfirmed FY26 group underlying EBITDA (a core profit measure) guidance of £910m to £960m and online margin guidance of 21-22%, both set out at its half-year results in August.
It now expects to land towards the lower end of both ranges. Excluding Brazil, online revenue growth remains on track for the top of its 5-7% guidance range; including the ban, Entain now expects 4-6% growth for the year.
Entain (LON: ENT) daily close, past 12 months to 25 September 2026, showing the stock’s decline towards its 52-week low.
Friday’s close already reflected a decline built up over the prior week, separate from the Brazil news, underlining that Entain’s earnings quality was already under scrutiny before today’s statement.
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The provisional measure must still clear Brazil’s Congress within 120 days to become permanent, leaving the size of any lasting hit to Entain’s earnings unresolved.
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