Better Collective Shares Plunge 24% After Brazil Betting Ban

Investing.com·28 Sep 2026·

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Summary · why it matters

Better Collective shares plunged 24% to around DKK53.5 on Monday, their lowest level since early 2020, after Brazil imposed a nationwide ban on fixed-odds betting and online gaming. The selloff followed the sports-media company's announcement that it was suspending its €40 million share-buyback program and withdrawing its 2027-2028 financial targets. Brazil's government introduced a provisional measure on Friday banning the operation, offering, intermediation and advertising of fixed-odds betting, including sports betting and online gaming, effective immediately with licensed platforms to shut down after a 10-day transition period. Better Collective revised its 2026 outlook assuming no further betting and casino revenue from Brazil, now expecting organic revenue growth of 3%-8% versus 7%-12% previously, while EBITDA before special items is expected to decline 7% to grow as much as 3%, against prior guidance for 8%-18% growth. The company said its Brazilian business had been trending toward about €45 million of revenue in 2026, roughly 12% of current analyst consensus for group revenue, with around €15 million expected in the remainder of the year.