Flutter Entertainment Expands Globally with Acquisition of NSX Group, Strengthening Position in Brazil
Published: September 15, 2024 | Author: Ron Clarke
In a move that further cements its global ambitions, Flutter Entertainment, the global corporation behind major brands like PokerStars, Paddy Power, and Betfair, has announced the acquisition of a 56% stake in NSX Group, a prominent Brazilian operator and owner of the Betnacional brand. This strategic investment of $350 million aligns with Flutter’s ongoing plan to secure leadership positions in key international markets, with Brazil being a significant new focus.
This acquisition allows Flutter to bolster its position in the rapidly growing Brazilian market, where NSX already ranks as the fourth largest operator. With Brazil’s online sports betting and iGaming market set to be fully regulated in 2025, Flutter is well-positioned to leverage its new combined business—Flutter Brazil—to take advantage of the local demand for betting products, particularly sports betting, which has seen an annual growth of 38% since 2018.
This news comes shortly after our report from a few weeks ago, where we shared that Flutter Entertainment was in advanced talks to acquire Playtech’s Snaitech for £2 billion, with the goal of enhancing its position in the Italian market. Snaitech operates the brand Snai, which is one of Italy’s leading gaming brands. Both acquisitions underscore Flutter’s strategy to expand its presence in regulated markets worldwide.
The new Flutter Brazil business will benefit from NSX’s rapid growth and local expertise, with the Betnacional brand capturing 12% of the sports betting market in Brazil. Combining this with Flutter’s Betfair Brazil business, expected to generate $70 million in 2024, places Flutter in a prime position to capitalize on future market consolidation post-regulation.
Completion of the acquisition is subject to regulatory approvals, with the deal expected to close by Q2 2025. The combined Flutter Brazil business is forecasted to deliver revenue synergies and significant growth potential in the future. We at Casin.com will continue to monitor Flutter’s international expansion efforts and report further updates, especially as Brazil’s full regulation in 2025 approaches.
