Flutter falls 5.4% on Brazil online-betting ban warning
Flutter says Brazil's provisional measure could cut 2026 revenue by $70 million and adjusted core profit by $20 million if upheld.
70 in afternoon trading after the company warned that Brazil's new online-betting ban could hit future results if it is upheld. The group said the measure could cut 2026 revenue by $70 mln and adjusted core profit by $20 mln. Brazil's provisional measure revokes online-betting licences and needs congressional approval within 120 days to stay in force. Flutter said it is reviewing options, including a possible appeal.
The stock is rated "buy" or higher by 23 of 32 brokerages, while nine rate it "hold"; the median price target is $126. 5% year to date.