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Ladbrokes owner Entain cuts revenue outlook after Brazil online betting ban
The FTSE 250 owner said earnings will land at the lower end of guidance as Brazil’s ban threatens about 5% of online revenue.
- On Monday, Entain cut its online net gaming revenue growth forecast to 4% to 6% after Brazilian President Luiz Inacio Lula da Silva signed an executive order banning online sports betting and gaming.
- Entain expressed disappointment with Silva's sudden decision, stating the order was issued "without consultation of industry stakeholders regarding its significant adverse consequences" to the newly legal framework.
- The firm forecasts 2026 underlying core profit at the lower end of £910 million to £960 million, with Brazil contributing only "modest" earnings due to a "challenging and highly competitive operating environment."
- Entain confirmed it will comply with the provisional ban, which must secure congressional approval within 120 days to become permanent legislation in Brazil.
- Separately, the group launched a consultation on job cuts across 11 countries, including at Coral, as it works to "address the impact of the UK's increased gambling taxes.
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Evening Standard+5 Reposted by 5 other sources
Entain reveals impact from Brazil online gambling ban
The group has downgraded its full-year online net gaming revenues outlook to between 4% and 6%.
·London, United Kingdom
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Ladbrokes owner Entain cuts revenue outlook after Brazil online betting ban
·London, United Kingdom
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The UK group of sports games and betting slightly lowers its forecast of growth in net online gaming revenues from 5%-7% to 4%-6% by 2026. It maintains its forecast of Ebitda.
The British Entain, owner of Ladbrokes, reduced on Monday its forecast of ...
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Total News Sources16
Leaning Left3Leaning Right1Center6Last UpdatedBias Distribution60% Center
Bias Distribution
- 60% of the sources are Center
60% Center
L 30%
C 60%
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