Entain Reaffirms 2026 Outlook as Strong UK Growth Offsets Brazil Ban
Entain PLC (LSE:ENT) reported a 2% increase in total group net gaming revenue for the third quarter of 2026 on a constant currency basis. Online revenue rose 3%, buoyed by strong gaming performance that helped absorb headwinds from customer-friendly sports outcomes and market challenges in Brazil. In the United Kingdom and Ireland, total net gaming revenue expanded 8% overall, driven by a 14% gain in online gaming and sports.
The update demonstrates operational resilience across core territories as key international markets face strict regulatory changes. Revenue in Brazil dropped 36% during the quarter prior to an immediate online gambling ban enacted on September 25, 2026. Stripping out Brazil, global online net gaming revenue grew 5%. Strong UK momentum and double-digit growth in Spain, New Zealand, and Canada helped keep overall performance on track.
Management reiterated its full-year 2026 guidance, expecting constant-currency online revenue growth of 4% to 6% and underlying core earnings at the lower end of its £910 million to £960 million range. Investors will also monitor progress on the company's planned sale of an initial 20% stake in its Central and Eastern Europe business during the fourth quarter, alongside ongoing regulatory discussions regarding UK gambling taxes.
Key points
- Group net gaming revenue grew 2% in the third quarter on a constant currency basis, with online revenue up 3%.
- United Kingdom and Ireland online revenue grew 14%, exceeding company expectations.
- Brazilian revenue fell 36% prior to an immediate ban on online gambling implemented on September 25, 2026.
- Full-year 2026 guidance was reaffirmed, with underlying EBITDA expected at the lower end of £910 million to £960 million.
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How we writeDisclaimerQuestions and answers
How did Entain perform in the third quarter of 2026?
Entain reported a 2% increase in group net gaming revenue and a 3% gain in online revenue on a constant currency basis.
Why was Entain revenue in Brazil impacted?
Brazil revenue fell 36% due to disciplined marketing efforts prior to an immediate online gambling ban announced on September 25, 2026.
What is Entain full-year financial guidance for 2026?
Entain expects full-year online revenue growth of 4% to 6% and core earnings at the lower end of its £910 million to £960 million range.