Ladbrokes owner Entain crashes to a six-year low after Brazil bans online gambling in shock move

From the Newshound archive · first published 28 September 2026 · last updated 29 September 2026.

Entain, the parent company of Ladbrokes, Coral and Sportingbet, saw its shares fall 5.1 per cent to 426.9p — their weakest since the Covid lockdowns of March 2020 — after Brazilian President Luiz Inácio Lula da Silva signed an order banning all online sports betting and casinos without any industry consultation. The company has trimmed its full-year online revenue growth forecast to between 4 and 6 per cent, with underlying earnings now seen coming in at the lower end of its £910 million to £960 million guidance range. Brazil had been on course to represent roughly 5 per cent of Entain's total online revenues this year.

Flutter, the Paddy Power and Betfair owner listed in New York, warned the ban could strip out $70 million in revenue and $20 million in earnings if its Brazilian operations remain closed for the remainder of 2026.

Entain had already been cutting around 400 jobs worldwide, citing higher UK gambling taxes and anticipating the Chancellor's move to double machine games duty in the Budget.

The ban is provisional and must be ratified by Brazil's congress within 120 days — Flutter said it is already 'reviewing all available options, including the potential to appeal'.