Flutter Brazil marked one year operating in Brazil’s regulated sports betting market, bringing together Betnacional and Betfair Brazil. The company said it had doubled its workforce and expanded its local operations; its platforms offer deposit limits, usage-time controls, temporary pauses and self-exclusion tools.
The update sets out Flutter Brazil’s expanded operations and the safer-gambling tools available on its platforms.
Quarter ended 30 September 2026
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Flutter Brazil announced that Eduardo Monte will become chief executive, while João Studart will take the role of executive chairman. Monte, previously the company’s chief operating officer, will lead day-to-day operations; Studart will focus on strategic, board and institutional responsibilities.
Flutter is winding down Betfair operations in Brazil and laying off local staff after a government measure halted regulated online betting, according to the report. The company said it would focus on Betnacional following a review of its commercial strategy, and said the employee process would comply with Brazilian labour laws. Flutter estimated the suspension could cost about $70 million in 2026 revenue if it lasted through year-end.
Flutter said it will close Betfair’s operations in Brazil and reduce its workforce across several business areas, following a review of its commercial strategy. The company said it will focus on Betnacional and linked the workforce reductions to uncertainty surrounding Provisional Measure 1.394/2026; it gave no number of affected employees.
Flutter reduced its FY2026 forecasts after Brazil’s betting shutdown and unfavourable sports results in its US and International segments. Q3 adjusted EBITDA fell 25% to $360 million; the company lowered its revenue guidance midpoint by $300 million to $17.61 billion and its adjusted EBITDA forecast by $160 million to $2.495 billion, according to its results.
Flutter Entertainment reported a net loss of $1.15bn for the three months ended 30 September, compared with $789m a year earlier. It recorded an $873m non-cash charge relating to Brazil and said it closed its Brazilian operations on 26 September after a provisional measure banned online betting and gaming.