Entain posts 2% revenue growth in Q3 as UK strength offsets Brazil ban
The gambling firm said its UK and Ireland business grew 8%, while Brazilian revenue fell 36% following a national ban on online betting.
Entain reported a 2% increase in group-wide net gaming revenue for the three months ended September 30, 2026, as strong growth in the UK and Ireland offset a sharp decline in Brazil following a national online betting ban.
Online net gaming revenue rose 3% year-over-year, the company said in its third-quarter earnings report.
"I am pleased with our Q3 performance which reflects the strength of our execution and reinforces the resilience of our globally scaled business as well as its ability to consistently deliver high-quality growth," said Stella David, Entain’s chief executive officer.
READ MORE: Brazilian lawmakers propose amendments to exclude sports betting from gambling ban
READ MORE: UK Gambling Market Reaches £17.5bn as Online Growth Outpaces Retail Decline
The UK and Ireland segment saw net gaming revenue increase by 8%, ahead of expectations, with online revenue up 14% and retail up 1%.
The firm said the UKI performance, largely driven by the heritage Ladbrokes and Coral brands, followed its "strategic execution and investment in the UK".
International net gaming revenue fell 4%, largely due to a 36% drop in Brazil, which was impacted by an "increasingly challenging market" even before President Lula da Silva's ban on all online betting and gambling in late September.
Excluding Brazil, the company said its total online net gaming revenue would have been 8% higher year-on-year, and its online net gaming revenue growth would have been 5% instead of 3%.
Entain reiterated its full-year 2026 forecast, expecting online net gaming revenue growth of between 4% and 6% and underlying EBITDA to fall at the lower end of a range of £910 million to £960 million.
Excluding Brazil and the challenges associated with it, the firm would expect online net gaming revenue growth in the 5% to 7% range.
In Australia, where it runs the Ladbrokes and Neds brands, online net gaming revenue was up 1%, in line with company expectations.
In Italy, where it operates the Eurobet brand, net gaming revenue fell 6% after 9% volume growth was offset by "customer friendly football results" in August and September, which cancelled out a strong finish to the World Cup across the group.
The group has discontinued its Central and Eastern Europe operations as it divests that segment to EMMA Capital in a deal valued at around £1.9 million.
Online net gaming revenue in that region rose 4%, but retail dropped 22%.
The company also maintained its target of £500 million in annual adjusted cash flow in 2028.
Entain was relegated from the FTSE 100 last month and its share price has fallen 44% in 2026.
On the back of the Q3 announcement, Entain’s stock dipped by 2.3% to £4.34.
The firm will be subject to a substantial tax bill in the UK market due to April’s increase in Remote Gaming Duty.
Isabelle Moreau is the editor of Novello Desserts and writes about family life and everyday living in Canada. The editor signs off on corrections and editorial standards.