Entain holds 2026 guidance despite Brazil betting ban

Entain kept its 2026 underlying EBITDA forecast at £910 million to £960 million and its online EBITDA margin guidance at 21% to 22% after Brazil imposed an immediate provisional ban on online sports betting and gaming. The company now expects both measures to land toward the lower end of their ranges if the restriction remains in force for the rest of the year. Entain lowered its full-year online net gaming revenue growth outlook, including Brazil, to 4% to 6% from 5% to 7%; excluding Brazil, it remains on track for the top of its original range. Brazil was expected to account for about 5% of online revenue, but to make only a modest EBITDA contribution. The measure requires congressional approval within 120 days to remain in force, leaving the longer-term regulatory outlook uncertain, and Entain said its Brazilian operations are complying.