Flutter acquisition will help firm capitalise on ‘runway of growth’ in Brazil, says CEO
His comments came as Flutter Entertainment announced that it completed its acquisition of a majority stake in NSX Group. The move sees Flutter acquire an initial 56 per cent of NSX – which operates betting platform Betnacional – for a cash consideration of approximately $350m (£263.11m).
Peter Jackson, CEO of Flutter, said: "I am delighted to welcome NSX - the operator of leading Brazilian sports betting and iGaming brand, Betnacional - to the Flutter portfolio.
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Hide Ad“The combination of NSX's extensive local expertise, alongside our existing Brazilian business and the advantages of the Flutter Edge, creates a compelling opportunity to capitalize on the exciting runway of future growth in Brazil."
This comes after Brazil implemented new regulation on iGaming – or online gambling – at the start of the year.
A statement from Flutter added: “The Brazilian online sports betting and iGaming market has highly attractive characteristics, including a population of over 200 million, with sports, and soccer in particular, being a key part of its culture.”
Flutter said it expected that the acquisition of NSX will contribute $220m (£165m) additional revenues and an adjusted EBITDA loss of $70m (£52.6m) in 2025.
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Hide AdThe latest announcement comes after Betfair and Paddy Power owner Flutter saw its earnings and revenue fall short of analysts expectations in the first three months of 2025, brought on by a string of betting wins for US gamblers.
lutter, which holds one of its largest offices in Leeds, saw its revenue grow eight per cent to $3.67bn (£2.77bn) in the first three months of 2025. The figure trailed analysts expectations of $3.8bn to $3.9bn.
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