Entain kept FY26 guidance while Brazil’s online ban landed inside the quarter.
On 15 October 2026, Entain published a trading update for 1 July to 30 September. Group net gaming revenue rose 2% in constant currency. Online NGR grew 3%, with gambling up 8% and sports down 3% after customer-friendly football results in August and September.
Details
UK and Ireland NGR rose 8%. Brazil NGR fell 36% amid tougher trading before the immediate online gambling ban was announced on 25 September 2026.
Excluding Brazil, online NGR grew 5%. Entain reiterated FY26 online NGR guidance of 4–6% and underlying EBITDA at the lower end of £910M–£960M, assuming the Brazil ban stays in force for the rest of the year.
Entain flagged roughly a 1–2 p.p. sports margin headwind in the quarter. That drag sits alongside Brazil, where management cited disciplined marketing and player engagement in an increasingly competitive market. The release assumes no online revenue from Brazil after the ban for the remainder of 2026.
Blask data shows Sportingbet still drew strong Brazil search demand while reported revenue fell. Across Q3 2026, Sportingbet averaged 5.9% BAP in Brazil. Strong search share and a 36% NGR decline rarely move together. Entain pointed to margin pressure, a tough Brazil trading environment, and tighter marketing — any of which can cut NGR while BAP lags.
William Hill led the Entain portfolio on global CEB in September 2026, ahead of Ladbrokes, bwin, and Sportingbet. The GEO chart shows near-podium CEB ranks in the United Kingdom and Spain, Sportingbet still inside Brazil’s top five, and Italy further back.
Group NGR still grew because online NGR in the UK and Ireland offset Brazil. Q3 includes only the first days after the online ban; the full Brazil hit will show in Q4 reporting.