Flutter acquires stake in Brazilian NSX Group
Flutter Entertainment has announced the acquisition of a 56% stake in Brazilian gambling operator NSX Group.
Flutter paid approximately US$350 million for its share in the Brazilian operator, expanding its stake in the Brazilian market, which went live on 1 January of this year.
Flutter Entertainment, which is one of the biggest gambling companies in the world and owns US sportsbook FanDuel, has a market capitalization of US$43.82 billion. NSX launched in 2021 and has become one of Brazil’s top four betting operators.
NSX will now have access to Flutter’s sports betting technology, including its pricing and risk management platforms.
Speaking about the purchase, Flutter Entertainment Chief Executive Peter Jackson emphasized how it would strengthen the company’s position in Brazil.
“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 capitalize on the exciting runway of future growth in Brazil,” he said.
The deal, which Flutter Entertainment estimates could generate as much as US$220 million in additional revenue this year, also gives the company a mechanism to increase its shareholding after five and ten years.
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Charlotte Capewell brings her passion for storytelling and expertise in writing, researching, and the gambling industry to every article she writes. Her specialties include the US gambling industry, regulator legislation, igaming, and more.
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