Entain CEO Stella David expects Brazil’s online gambling market to reopen in some form, with the operator planning to return to the market with its Sportingbet brand.
On 25 September, Brazilian President Lula signed an order banning online sports betting and casino gaming in the country. This came less than three years after Lula signed the legislation that established a national regulatory framework.
The ban forced all licensed operators, including Entain, to pause operations in the country, with the situation showing no immediate signs of being resolved.
Today (15 October), Entain referenced the impact of the market’s closure on its performance in Q3. While the ban did not come into effect until late in the quarter, net gaming revenue (NGR) in the country was 36% lower year-on-year.
However, speaking during a Q3 earnings call, David was upbeat on the future in Brazil. She said Entain was confident in its position in the country, highlighting Sportingbet’s long-standing presence and strong brand equity in the market.
David also noted that Sportingbet is predominantly a sports brand, with around 70% of its business focused on sports. As such, if Brazil were to switch to a sports betting-only model, the brand would be well placed to navigate an online casino ban.
“Our intention is to reopen up Brazil,” she said. “If the market back came back and it was sports only, then I think we’d be well set for that.
“If it came back and there’s advertising bans, then I think we’d be relatively well set for that because we’ve got long-term brand equity.
“I think the market will reopen in some form or another, and we will be back there.”
Entain to take cautious approach on Brazil return
Despite its intention to reactivate in Brazil, David said Entain would take a “proportionate and sensible” approach to investment if the market reopens, given recent volatility.
She said the group had already taken a “pragmatic approach” to its Brazil investment before the shutdown.
She noted a focus on the right customers rather than “chasing volume at any cost” – reflecting Entain’s narrative within its Q3 update of “disciplined marketing and player engagement” in the country.
David added that Entain currently has a relatively small team working in Brazil, with employees focused on other areas of the business while the operator waits for greater clarity on the market’s future.
“When the market opens up, we will continue a conservative approach to make sure that we’re not running at a loss in a market where it is very difficult to predict the future,” David said.
Entain warns UK tax rises could see betting shops close
Away from Brazil, David also touched on the UK market, where Entain saw significant growth in Q3. Total NGR for the region climbed 8% in Q3, driven by a 14% rise in online revenue.
Retail revenue was also marginally higher year-on-year, but David warned this area of the business could suffer due to increased taxes in the UK.
In April, Remote Gaming Duty (RGD) increased from 21% to 40%, while a new rate of General Betting Duty (GBD) is set to be introduced at 25% next year.
David warned that a further hike could result in around 1,500 betting shop closures and 16,000 job losses across the industry.
She said 630 betting shops had already closed since the same time last year, before any potential increase in MGD.
“The most important point is that we get our message across that putting the taxes up closes shops, reduces jobs, and reduces tax intake,” said David.
Next.io
Dingnews.com 16/10/2026