Entain has indicated its interest in re-entering the Brazilian market if online gaming operations are set to resume, even as it reported a significant 36% decline in net gaming revenue (NGR) in Brazil year-over-year for the third quarter of 2026. During a recent conference call with analysts, CEO Stella David highlighted that the company is awaiting clearer regulatory conditions to guide its investment strategies in the region.
David explained that the 36% revenue drop was influenced by stricter marketing measures implemented amid various market complexities. This downturn was noted just ahead of an immediate ban on online gambling enacted by the Brazilian government on September 25.
Looking ahead, David mentioned that Entain’s popular brand in Brazil, Sportingbet, could be well-positioned if the market reopens with new regulations. Given that around 70% of Sportingbet’s business is centered on sports, this might provide a competitive advantage if Brazil permits sports betting while restricting other gambling products.
Although Entain currently does not plan to reapply for its Brazilian license upon market reopening, David emphasized the company's readiness to adapt to whatever regulatory framework emerges. The impending deadline of the provisional measure, which is set for 120 days, adds an element of uncertainty, compounded by political developments in Brazil, which are also impacting market conditions.
