Flutter Entertainment Acquires Stake in Leading Brazilian Operator NSX Group

Flutter Entertainment, the world's leading online sports betting and iGaming operator, has announced the acquisition of an initial 56% stake in NSX Group, a leading Brazilian operator of the Betnacional brand. The transaction was made for a cash consideration of approximately $350 million.

NSX Group is the number 4 operator in Brazil, with a portfolio of brands including Betnacional. The company is expected to generate revenue of approximately $256 million and Adjusted EBITDA of approximately $34 million in 2024. Flutter will contribute its existing Betfair Brazil business in return for a 56% stake in the newly combined Flutter Brazil business.

The transaction is expected to close by Q2 2025, subject to customary regulatory clearances. Flutter's CEO, Peter Jackson, expressed excitement about the acquisition, highlighting the potential for future growth in Brazil.