iGaming stock market: weekly roundup 29 Sep–5 Oct 2026

Brazil changed the board for iGaming shares this week. The decree MP 1.394/2026 bans the operation, offering, intermediation and advertising of fixed-odds betting, including online sports betting and gaming, and betting platforms will become unavailable from 6 October 2026, after the 5 October deadline for customers to withdraw their balances. The effect showed up as significant declines among leading operators during the week of 29 September to 5 October 2026.

Immediate impact on the iGaming stock market

The Brazilian measure explains part of the weakness seen in the sector’s top listed companies. Flutter Entertainment plc, which operates the Betfair brand among others, confirmed cessation of activities in Brazil and estimated that, if operations remain suspended through the end of 2026, the impact could reach $70 million in revenue and $20 million in adjusted EBITDA. Flutter finished the week down -2.17%, with a market capitalization of $12.98B and reported sales of $17.16B.

DraftKings Inc. recorded the largest decline among the big names, -3.93%, with 17,857,186 shares traded. Its market capitalization stood at $9.23B, versus $12.28B in the prior round, and its exposure is much more concentrated in the US market than that of other operators.

Super Group (SGHC) Limited fell -0.97% and retains a market capitalization of $5.72B; its Sportingbet brand has an international presence, including Brazil, so the ban is also material for the company.

Weekly performance table for iGaming companies

Below are the published figures for the week:

1. FLUT — Flutter Entertainment plc: Market Cap $12.98B, Change -2.17%, Volume 2,509,892, Revenue $17.16B

2. DKNG — DraftKings Inc.: Market Cap $9.23B, Change -3.93%, Volume 17,857,186, Revenue $6.22B

3. SGHC — Super Group (SGHC) Limited: Market Cap $5.72B, Change -0.97%, Volume 3,391,497, Revenue $2.43B

4. CHDN — Churchill Downs Incorporated: Market Cap $5.30B, Change 1.64%, Volume 1,194,510, Revenue $2.99B

5. RSI — Rush Street Interactive, Inc.: Market Cap $4.64B, Change 0.30%, Volume 1,859,083, Revenue $1.37B

6. BRSL — Brightstar Lottery PLC: Market Cap $1.81B, Change -0.40%, Volume 2,419,389, Revenue $2.47B

7. ACEL — Accel Entertainment, Inc.: Market Cap $880.14M, Change 2.36%, Volume 422,852, Revenue $1.39B

8. CDRO — Codere Online Luxembourg, S.A.: Market Cap $431.96M, Change -1.86%, Volume 29,675, Revenue $262.52M

9. MRDN — Meridian Holdings Inc.: Market Cap $151.20M, Change 3.64%, Volume 48,931, Revenue $197.19M

10. INSE — Inspired Entertainment, Inc.: Market Cap $91.33M, Change -5.59%, Volume 406,364, Revenue $281.40M

11. ROLR — High Roller Technologies, Inc.: Market Cap $53.93M, Change -0.61%, Volume 31,151, Revenue $15.63M

12. GRSD — Grandstand Limited: Market Cap $53.75M, Change 2.72%, Volume 145,010, Revenue $163.42M

13. BRAG — Bragg Gaming Group Inc.: Market Cap $37.48M, Change 3.45%, Volume 9,053, Revenue $117.71M

14. SEGG — Sports Entertainment Gaming Global Corporation: Market Cap $7.64M, Change 1.96%, Volume 26,596, Revenue $559.59K

Reactions by capitalization tiers and reported results

Among the large-cap group, Flutter suffered the decline most consistent with exposure to Brazil. DraftKings showed the largest percentage loss and trading volume. Super Group also feels the impact of the Brazilian closure because of Sportingbet’s presence.

In the mid-tier segment, Churchill Downs was the best performer among the top five by market cap, at +1.64%, given its more limited exposure to the Brazilian market. Rush Street Interactive rose 0.30%; its latest results showed sustained growth, with second-quarter 2026 revenue of $393.8M, a year-on-year increase of 46%.

Among smaller-cap companies, Meridian Holdings led gains with +3.64%, while Inspired Entertainment posted the largest drop among small-caps, -5.59%.

Brazil: from regulation to prohibition and the legislative timetable

The measure that defined the week is MP 1.394/2026. The text bans the operation, offering, intermediation and advertising of fixed-odds bets, including online segments. Platforms will cease to be available on 6 October 2026 after 5 October as the last day for users to withdraw their funds.

The decree now requires approval by the Congress within 120 days and there are already 42 propositions submitted to Congress, which leaves the regulatory future open and adds uncertainty for operators with direct exposure in Brazil.

What investors and operators should watch

Investors should assess two separate vectors: the direct revenue loss in affected markets and the risk aversion triggered when a regulatory framework shifts suddenly to an effective ban. Sellers and platforms exposed to Brazil will need to present financial scenarios that assume prolonged suspension; Flutter has already quantified that scenario as $70M in revenue and $20M in adjusted EBITDA if the suspension lasts until the end of 2026.

For risk-analysis or coverage contexts, this episode underscores the need to measure geographic revenue concentration and how quickly regulatory circumstances can turn into effective prohibitions.

"If Brazilian operations remain suspended through the end of 2026, the impact on Flutter’s revenue could reach $70 million, and $20 million in adjusted EBITDA," the company confirmed.

"DraftKings registered the largest percentage decline among the large caps, at -3.93% and 17,857,186 shares traded," according to the week’s data.

For direct follow-up on the regulatory implications it can be useful to review [regulatory coverage](/regulation).