Entain PLC (LSE:ENT) has reaffirmed its full-year 2026 guidance after reporting third-quarter net gaming revenue growth of 2% overall.
Strong performance across the UK and Ireland helped the FTSE-listed betting and gaming group absorb significant headwinds from its Brazilian operations during the period.
Online net gaming revenue climbed 3% during the quarter, accelerating to 5% growth when Brazil was stripped out of the figures.
Gaming revenue delivered a notably stronger result, rising 8% across the group’s online channels during the third quarter.
UK and Ireland net gaming revenue grew 8%, with online revenue surging 14% as gaming climbed 17% and sports revenue added a further 3%.
Online volumes across the UK and Ireland expanded by 15%, reflecting continued momentum in Entain’s core domestic market.
International net gaming revenue declined 4%, with a 36% slump in Brazil weighing heavily as Entain pulled back on marketing and player engagement activities.
The Brazilian retreat came ahead of an immediate online gambling ban introduced in September, which forced Entain to scale back operations in the country significantly.
Australia posted 1% online growth, while New Zealand, Spain and Canada all recorded double-digit increases, partially offsetting a 6% revenue fall in Italy where customer-friendly football results squeezed sports margins.
Entain continues to expect 2026 online net gaming revenue growth of 4% to 6% at constant currencies, with growth excluding Brazil anticipated at the top end of its 5% to 7% target range.
Underlying earnings before interest, tax, depreciation and amortisation are forecast at the lower end of the £910 million to £960 million guided range for the full year.
The group’s online margin is expected to land at the lower end of the 21% to 22% range, reflecting the combined impact of Brazil and sporting results in key markets.
Joint venture BetMGM also held its annual net revenue guidance of US$2.9 billion to US$3.1 billion, alongside adjusted EBITDA guidance of US$300 million to US$350 million, though both are tracking towards the lower end of their respective ranges.
Chief executive Stella David used the update to call on the UK Government to resist further gambling tax increases, warning that higher taxes could threaten betting shops, jobs and livelihoods.
