Betting giants Flutter and Entain have warned over a hit to annual results after Brazil’s shock move to ban online gambling.
Paddy Power and Betfair owner Flutter joined Ladbrokes and Sportingbet rival Entain in hitting out at the sudden decision by Brazilian President Luiz Inacio Lula da Silva on Friday to sign an order that “prohibits all sports betting and online casinos”.
Flutter, which is now listed in New York, said it would be facing a full-year revenue impact of around 70 million US dollars and a blow to underlying earnings of about 20 million dollars if its Brazilian operations are shut down for the rest of 2026.
