Entain Q3 NGR up 2% as UK&I online rises 14%

Entain plc reported a 2% rise in group net gaming revenue (NGR) for the third quarter of 2026, helped by a strong UK and Ireland online performance and weighed down by Brazil. The Q3 trading update, published on 15 October 2026 and covering 1 July to 30 September, is at constant currency and on continuing operations (excluding Entain CEE, which is treated as discontinued).

Online NGR rose 3%, with gaming up 8% and sports down 3%. Entain said customer-friendly football results in August and September more than offset a strong sports margin in July. Excluding Brazil, Online NGR was up 5%. Retail NGR fell 2%.

UK and Ireland ahead of Entain's own expectations

UK and Ireland total NGR rose 8%. Online in the region was up 14% (gaming +17%, sports +3%), with volume growth of 15%. UK&I retail NGR rose 1%, or 3% on a like-for-like basis that excludes store closures. Entain linked the UK&I result to its strategic execution and investment in the UK while "digesting the increasingly challenging tax environment".

CEO Stella David used the update to lobby on tax: "We strongly urge the UK Government to carefully consider any further gambling tax increases which would threaten the viability of many shops, jobs and livelihoods."

International soft; Brazil −36%

International NGR fell 4% (online −3%, retail −12%). Brazil NGR was down 36%. Entain ties that figure to disciplined marketing and player engagement in a harder market before the immediate online gambling ban announced on 25 September 2026, and it assumes the ban holds for the rest of 2026 when it talks about full-year guidance.

Elsewhere in the update: Australia online NGR +1%; Italy NGR −6% (strong volumes offset by soft sports margins); New Zealand, Spain and Canada each delivered double-digit online NGR growth. Entain CEE (discontinued) NGR was roughly flat year on year.

Full-year guidance held

Entain reiterated the FY26 guidance it gave on 28 September 2026:

• Online NGR growth of 4–6% at constant currency
• Excluding Brazil, Online NGR growth at the top end of 5–7%
• Underlying EBITDA (excluding parent fees) at the lower end of £910m–£960m
• Online underlying EBITDA margin at the lower end of 21–22%

BetMGM, Entain's US joint venture with MGM, reconfirmed FY26 net revenue of $2.9bn–$3.1bn and adjusted EBITDA of $300m–$350m, with delivery expected toward the lower end of both ranges.

Related coverage: BetMGM's Q3 2026 net revenue up 7%, Brazil's TRF3 stake injunction suspension and the betting ban, and Brazil's planned AGU suit and the refund timetable.

18+. Gambling can be addictive. If it stops being fun, see our responsible gambling page.