Entain’s UK and Ireland online net gaming revenue rose 14% between July 1 and September 30, 2026. The increase helped offset pressure in Brazil and a weaker sports margin across the group.

The Ladbrokes and Coral owner reported a 2% rise in group net gaming revenue for the third quarter. Online net gaming revenue grew 3% on a constant-currency basis, according to the company’s trading update published on October 15.

UK growth outpaced the group

Entain’s total UK and Ireland net gaming revenue increased 8%. Online revenue led the recovery, rising 14%. Gaming revenue climbed 17%, while sports revenue grew 3%.

Retail also contributed. Like-for-like retail net gaming revenue increased 3%, with volumes supported by continued investment in the British market.

UK and Ireland online volumes rose 15%. Entain linked the increase to continued momentum and market-share gains.

The figures show a clear gap between Entain’s domestic performance and its international results. The UK and Ireland operation grew much faster than the wider group, but that strength did not fully carry through to group earnings.

Brazil and football results cut into momentum

Group online growth would have been stronger without Brazil. Entain said online net gaming revenue excluding Brazil rose 5% during the quarter, compared with 3% across the group.

Brazilian net gaming revenue fell 36%. Entain attributed the decline to disciplined marketing and lower player engagement ahead of Brazil’s online gambling ban, announced on September 25.

Customer-friendly football results also reduced the value of sports betting activity for operators. Entain estimated that adverse sports results created a one to two percentage-point margin headwind during the quarter. The effect cut online growth by about four percentage points.

Entain’s UK and Ireland growth was strong, but Brazil and sports results showed how quickly international conditions can change the group’s overall picture.

Guidance stays in place

Entain kept its 2026 guidance unchanged. It expects online net gaming revenue to grow between 4% and 6% on a constant-currency basis.

  • Underlying earnings before interest, tax, depreciation and amortisation are expected at the lower end of the £910 million to £960 million range.
  • Online underlying earnings margin is expected at the lower end of the 21% to 22% range.
  • Excluding Brazil, full-year online net gaming revenue growth is expected at the top end of the 5% to 7% range.

Entain also repeated its expectation of generating £500 million in annual adjusted cash flow in 2028. It said the effect of future tax and regulatory changes remains unknown.

Why the next stage matters in Britain

The update gives investors two competing signals. Entain’s UK operation is growing faster than the group, but rising costs, tax uncertainty and customer-friendly sports results are testing the quality of that growth.

Chief executive Stella David said further gambling tax increases could threaten the viability of betting shops, jobs and local livelihoods. That is the company’s position, not a government decision. The trading update confirmed no new tax measure.

The practical test is whether Entain can turn strong UK online volumes into durable earnings while maintaining its retail network and meeting regulatory obligations. Its next results will show whether the domestic rebound can carry more of the group’s weight.