President Lula da Silva's sudden ban on online gambling in Brazil has sent shockwaves through the industry. Entain has lowered its forecasts, while experts remain skeptical about the ban's longevity.
President Luiz Inácio Lula da Silva has abruptly ended Brazil's regulated online gambling market, impacting major international companies and leaving consumers in disarray.
Flutter Entertainment has ceased operations in Brazil following a government ban on online betting and gaming. The company is reviewing its options and engaging with authorities.
GiG Software is set to acquire an 80% stake in 888AFRICA, while Evolution's Board rejects Kenneth Dart's takeover offer. Brazil explores a monthly betting deposit limit.
Senator Camilo Santana proposes a monthly betting limit to protect gamblers from excessive spending. The limit would be 5% of the minimum wage, around $16.