Ladbrokes owner Entain cuts online revenue outlook after Brazil online betting ban

On September 28, betting company Entain announced that it had lowered its outlook for online net gaming revenue growth to between 4% and 6% on a constant currency basis. This adjustment came in the wake of Brazil's decision to ban online sports betting and gaming operations. President Luiz Inacio Lula da Silva signed an executive order implementing the ban, less than two years after the government had established a legal framework for the industry to operate.

Entain anticipates that its 2026 group underlying core profit will be at the lower end of its previously projected range of £910 million to £960 million ($1.20 billion to $1.27 billion). Similarly, the company's online underlying core profit margin forecast is expected to be at the bottom end of the 21% to 22% range.