Entain, the owner of Ladbrokes, reported a 2% increase in third-quarter net gaming revenue, as strong growth in the UK and Ireland offset weaker performance in Brazil, and reiterated its full-year 2026 forecast.
Net gaming revenue rose 2% in the three months ended September 30, 2026, while online revenue increased 3%.
The UK and Ireland delivered stronger results, with net gaming revenue rising 8% and online sales growing 14%, exceeding the company’s expectations.
However, Entain continued to face challenges in Brazil, where increased competition had already weighed on its performance. Brazil banned online gambling last month, adding pressure to an industry facing high costs and regulatory scrutiny.
Entain said that excluding Brazil, total online NGR was 8% higher year-on-year.
The company had previously warned that its 2026 group underlying core profit would be at the lower end of its earlier forecast range of £910 million ($1.20 billion) to £960 million ($1.27 billion).
Despite the challenges in Brazil, Entain reaffirmed its full-year 2026 forecast, which it provided late last month.
“I’m pleased with our Q3 performance,” said CEO Stella David. “It reflects the strength of our execution and reinforces the resilience of our globally scaled business as well as its ability to consistently deliver high-quality growth.”
The company also maintained its target of £500 million ($661.7 million) in annual adjusted cash flow in 2028.