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Evolution criticises Brazil betting ban after closing live casino studio

Regulation

Evolution chief executive Martin Carlesund criticised Brazil’s betting ban during the company’s Q3 earnings call, describing the closure as a negative for the business. The company closed its Brazilian live casino studio but said it would be ready to return if the market reopened; Evolution maintained its FY 2026 financial guidance.

A row of server racks in a data center with a ventilation fan on the wall.

Brazil’s ban closed Evolution’s local studio, while the company says it is ready to return if the market reopens.

End-of-day close Evolution (EVO), SEK, to 3 November 2026
Story date14 September 20263 November 2026

Latest reported results

Evolution Nasdaq Stockholm: EVO

Quarter ended 30 June 2026

Revenue
EUR 517.8m
Operating income
EUR 297.8m

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Regulation

President Lula bans online betting operations in Brazil through provisional measure

President Lula issued a provisional measure immediately banning online betting operations in Brazil. Licensed sites face blocking from 6 October, and Congress has 120 days to ratify or amend the measure. Betano is preparing legal action, while Allwyn and Entain have outlined potential effects on their forecasts.

On Friday, with the country's general election two days away, President Lula signed a provisional measure that halts online betting sites in Brazil with immediate effect. Licensed operators will be blocked from 6 October, and customers have until the preceding day to ask for their money back. Any funds still held after that deadline must be credited by the sites to registered accounts during the window of 9 to 14 October. Because the instrument is provisional, Congress must review it, ratifying or amending it inside 120 days.

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