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November 4, 2026 · 11:42am ET | 8:42am PT
Third-quarter revenue was up 2% for FanDuel parent Flutter Entertainment, but the effects of Brazil’s ban on iGaming and online sports betting drove massive losses and lower cash flow.
Flutter realized revenue of nearly US$3.9 billion but lost US$1.1 billion, mainly because of an US$873 million write down related to the forced closure of Betfair Brazil. Cash flow shrank 25% to US$360 million. The company’s leverage ratio stood at 4.6 times cash flow.
Despite a 12% gain in US players, Flutter saw its bettor base decline 3% year over year. The discontinuation of operations in India was blamed for the reversal.
