Flutter halts Brazil betting operations after government ban; sees ~$70M 2026 revenue, ~$20M EBITDA hit

Flutter Entertainment plc

Brazil's provisional executive order (announced Sept 25, 2026) bans online betting and iGaming; Flutter ceased its Brazil sports betting and iGaming operations.
If Flutter Brazil cannot operate for the rest of 2026, expected reduction of approximately $70m in revenue and approximately $20m in adjusted EBITDA.
The order requires Congressional approval or amendment within 120 days to remain in effect; Flutter expects operations to recommence if Congress rejects the measure.
Flutter says it is reviewing all options, including a potential appeal, and is assessing associated non-cash accounting implications.
Flutter says it continues to engage with Brazilian authorities on regulation to protect customers from the unregulated market.

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