Flutter Entertainment has acquired a 56% stake in Brazil's NSX Group for approximately $350 million, aiming to strengthen its market position in the rapidly expanding Brazilian online sports betting and iGaming sector.
Information on the Target
Flutter Entertainment (NYSE: FLUT; LSE: FLTR) has successfully acquired a 56% stake in NSX Group, which operates the Betnacional brand, for a cash consideration of approximately $350 million. NSX is recognized as a leading operator in Brazil's online sports betting and iGaming sector, having rapidly established itself since its market entry in 2021, currently holding the position of the fourth-largest operator by 2023.
This acquisition is a strategic move for Flutter, aimed at enhancing its presence in the fast-evolving Brazilian market. By leveraging NSX’s local expertise and infrastructure, Flutter aims to strengthen its competitive position and expand its brand portfolio in this vibrant market.
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Industry Overview in Brazil
The Brazilian online sports betting and iGaming market is experiencing remarkable growth, driven by a large population exceeding 200 million people. Sports, and soccer in particular, play an integral role in Brazil's
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Flutter Entertainment
invested in
NSX Group
in 2025
in a Buyout deal
Disclosed details
Transaction Size: $350M
Revenue: $220M
EBITDA: $-70M