Entain is looking to re-enter the Brazilian market, contingent upon the resumption of operations in the online gaming sector, despite facing a notable 36% decline in net gaming revenue (NGR) in Brazil for the third quarter of 2026, compared to the same period last year.
During an analyst conference call, CEO Stella David outlined the company’s intentions, stating that Entain would consider a return once the regulatory environment becomes clearer, allowing for strategic investment decisions based on market conditions.
David highlighted that the decline in revenue is largely due to the company implementing stricter marketing practices amid complex market challenges. This downturn in revenue coincided with an immediate ban on online gambling imposed by the Brazilian government on September 25.
Regarding future prospects, David mentioned that Sportingbet, Entain’s prominent brand in Brazil, could be well-positioned to capitalize on any potential market reopening under new regulations. The brand generates approximately 70% of its business from sports betting, which may provide an advantage if Brazil permits sports betting but restricts other gambling formats.
Currently, Entain does not anticipate reapplying for its Brazilian gaming license should the market reopen; however, David indicated that the company is prepared to adapt to whatever framework may arise. As the provisional measure approaches its 120-day deadline, the company is also considering various possible market outcomes that remain complicated by Brazil's shifting political landscape.
