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Allwyn says Brazil betting ban puts 2026 margin guidance at risk

Regulation

Allwyn said its previous 2026 Adjusted EBITDA margin guidance of about 37% would no longer apply if Brazil's prohibition on online sports betting and iGaming remains in force through year-end. The company is assessing the effect on its 36.75% stake in Kaizen Gaming; Betano is evaluating mitigation measures and preparing legal action, Allwyn said.

Brazil’s prohibition could make Allwyn’s previous 2026 margin guidance inapplicable through its stake in Kaizen Gaming.

End-of-day close Allwyn (ALWN), EUR, to 6 November 2026
Story date17 August 20266 November 2026

Latest reported results

Allwyn Athens: ALWN

Quarter ended 30 June 2026

Revenue
EUR 1.25bn
Operating income
EUR 141.0m

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Regulation

Brazilian government suspends fixed-odds betting under provisional measure

Brazil's government issued Provisional Measure 1.394/2026 on 25 September, provisionally prohibiting fixed-odds betting and online gambling, according to the report. Licensed companies have ten days to close operations, and the measure still requires parliamentary approval. Flutter said it had stopped operating in Brazil and estimated that a shutdown through the rest of 2026 would reduce revenue by about US$70m and adjusted EBITDA by about US$20m.

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