Flutter halts Brazil sports betting and iGaming under government order
The ban follows a provisional executive measure and must go to Congress within 120 days to remain in effect
Published
Flutter Entertainment has stopped operating sports betting and iGaming in Brazil after the government issued a provisional executive measure banning online betting and gaming in the country.
The company says it is complying with the order while reviewing its options, including a possible appeal. The measure is provisional and is expected to need Congressional approval or amendment within 120 days to stay in force.
Flutter says that if its Brazil business cannot operate for the rest of the year, it expects 2026 revenue to fall by approximately $70m and adjusted EBITDA to fall by approximately $20m.
The hit to revenue and earnings is material, and the shutdown removes near-term upside from the Brazil business. The 120-day Congressional window leaves open the chance the ban is reversed or amended, but until then Flutter faces execution risk around any appeal or legislative change.