Flutter Entertainment has finalized the purchase of a 56% stake in Brazil’s NSX Group for around $350 million in cash.
NSX, known for operating the rapidly growing Betnacional brand, ranks among the leading companies in Brazil’s booming online betting sector. According to Flutter, the acquisition enhances its foothold in Brazil’s newly regulated market and aligns with its broader strategy to establish leading positions in major international markets.
Peter Jackson, CEO at Flatter, mentioned:
The transaction demonstrates Flutter’s powerful optionality as an ‘and’ business and aligns perfectly with our strategy for value creating M&A.
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 capitalise on the exciting runway of future growth in Brazil.
Flutter expects the NSX acquisition to contribute around $220 million in revenue by 2025, though it anticipates a $70 million adjusted EBITDA loss, consistent with trends in newly regulated, high-growth markets.
