Flutter Entertainment acquires 56% stake in Brazil's NSX Group for $350m to strengthen presence in regulated Brazilian sports betting market.

Flutter Entertainment has acquired a 56% stake in Brazil's NSX Group, operator of Betnacional, for approximately $350 million. This strategic move aims to strengthen Flutter's presence in the rapidly growing Brazilian market, which will fully regulate online sports betting in early 2025. The deal involves merging NSX's operations with Flutter's Betfair Brazil brand to form Flutter Brazil. The acquisition is expected to close by Q2 2025, pending regulatory approval.

September 13, 2024
25 Articles