Flutter Entertainment Ceases Operations In Brazil Following Executive Order Banning Online Betting; Estimates Up To $70M Revenue Impact And Reduction In Adjusted EBITDA Of ~$20M

Flutter Entertainment has ceased its operations in Brazil following an executive order from the Brazilian Government banning online betting and gaming. The company estimates a revenue impact of up to $70 million and a reduction in adjusted EBITDA of approximately $20 million for 2026. Flutter is exploring options, including a potential appeal, and continues to engage with Brazilian authorities regarding regulation. The executive order may require Congressional approval within 120 days to remain effective.