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Flutter halts Brazilian betting as Allwyn prepares legal action

Regulation

Flutter stopped its online sports betting and iGaming operations in Brazil following the government’s temporary ban, the company said. If it cannot operate for the rest of 2026, Flutter estimated revenue would fall by about €61.5m and adjusted EBITDA by about €17.6m. Allwyn said it was preparing legal action through Betano to protect its rights, citing the five-year licence issued on 1 January 2025.

The suspension and potential legal challenge signal direct operational and financial exposure for both groups.

End-of-day close Flutter (FLUT), USD, to 6 November 2026
Story date14 August 20266 November 2026

Latest reported results

Flutter NYSE: FLUT

Quarter ended 30 September 2026

Revenue
USD 3.87bn
Operating income
−USD 1.19bn10-Q filing 0001635327-26-000059

Allwyn Athens: ALWN

Quarter ended 30 June 2026

Revenue
EUR 1.25bn
Operating income
EUR 141.0m

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Better Collective shares fall 37.16% following Brazil betting ban

Better Collective’s shares fell 37.16% over five days following Brazil’s betting ban announcement. Flutter’s shares declined 11.52% over the same period. It was reported that Better Collective estimated a €15m impact for the rest of 2026 and suspended its 2027 guidance.

Better Collective's share price fell 37.16% over five days following the announcement of a provisional measure to ban online gambling in Brazil, according to share price data cited in a report on 29 September 2026. The report said the decline came five days after President Lula's announcement and ahead of the first round of the election on 4 October.

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