A day after announcing 1,400 job cuts and closure of Sky Bet Malta, Flutter is closing Betfair’s operations in Brazil and cutting jobs across its local business following the country’s online betting ban.
The Group announced it will concentrate its Brazilian activities on Betnacional while awaiting clarity on the market’s regulatory future.
In an exclusive statement to NEXT.io, Flutter Brazil said:
After reviewing its commercial strategy, Flutter Brazil has decided to focus its activities on a single brand, Betnacional, which will result in the closure of Betfair’s operations in the country. Once there is clarity on the regulatory landscape, the company will direct resources and expertise to the local brand, strengthening its focus on product and simplifying its business model.
Flutter also confirmed workforce reductions across several business areas, citing the suspension of commercial activities and revenue under Provisional Measure 1,394/2026.
Flutter Brazil spokesperson added:
Flutter Brazil recognises the contribution of the affected professionals and deeply regrets the impact of these decisions on them. The process is being conducted with responsibility, respect and care for employees, in accordance with applicable labour legislation. Flutter Brazil continues to advocate for a regulated and supervised market as the most effective way to protect consumers, combat illegal betting and promote the sustainable development of the sector.
After the decision of ceasing Flutter Brazil operations, series of posts from employess followed on LinkedIn. Reports published on October 22 indicated that the cuts affected casino, customer operations, content and commercial teams.
The latest reductions come just days after Flutter placed up to 1,400 jobs in its UK and Ireland division at risk of redundancy. The group has also confirmed plans to close Sky Bet’s Malta operation as part of a wider restructuring.
Brazil’s ban halts Flutter’s operations
The job losses are a result of a provisional measure recently enacted by Luiz Inácio Lula da Silva, the president of Brazil. The provisional measure is designed to take control of fixed-odds betting and Internet casino operations, thereby putting a halt to operators across Brazil.
Betnacional and Betfair Brazil halted operations immediately after the signing of the provisional measure. Licenses were taken from licensed betting sites by October 6.
Flutter made its entry into the Brazilian market by acquiring a controlling stake in NSX Group and about $350 million of its initial 56% stake in Betnacional. That deal also includes options for increasing the levels of ownership in Betnacional.
The shutdown of Betfair Brazil shows the departure from the expansion strategy of Flutter. Further steps of the company will largely depend on the outcome of the congressional resolution relating to the Brazilian provisional betting measure and the regulatory framework that would enable the resumption of its operations in the country.
