Last updated on September 20th, 2024
Flutter Entertainment, a leading global entity in sports betting and gaming, has announced its latest expansion deal by acquiring a significant stake in NSX Group, a reputable gaming operator in Brazil, for reportedly $350 million.
This move aligns perfectly with Flutter’s strategy to establish a dominant position in some of the key international markets, particularly in the fast-expanding Brazilian market, which in recent years has become a battleground for leading gaming operators worldwide.
NSX Group is the perfect choice for Flutter as this company has a diverse portfolio of brands, including the giant Betnacional, its flagship brand and an operator who enjoys naming rights for Brazil’s Serie B football league.
The latest acquisition is expected to further bolster Flutter’s presence in Brazil, a gaming market that is projected to generate substantial growth in the upcoming decade.
One interesting statistic shows that in 2024, NSX is expected to generate around $256 million in revenue and an adjusted EBITDA of around $34 million, numbers that highlight its strategic importance to the global ambitions of Flutter.
In addition to the acquisition, Flutter will also integrate its existing Betfair Brazil brand with NSX in order to form a unified entity that will operate under Flutter Brazil.
The company believes this venture further will enhance its competitive positioning in Brazil, a market that has recently undergone positive regulatory changes that create a favourable environment for growth in the gaming sector.
This integration is expected to significantly increase shareholder value by optimizing synergies and further strengthening Flutter’s local brand outreach.
Peter Jackson, CEO of Flutter Entertainment, shared his positive thoughts on the acquisition, stating
I am excited to announce the addition of NSX, operator of Betnacional, a leading Brazilian sports betting and iGaming brand, to the Flutter portfolio. We believe that combining the extensive local expertise of the NSX team, our existing Betfair business, and the power of the Flutter Edge will create a compelling opportunity to capitalize on the growth potential in Brazil, which presents an exciting runway for future growth.
Theis acquisition is just the latest in Flutter’s strategic moves, and this includes the negotiations to acquire the Italian brand of Playtech , Snaitech in August, as well as the opening of a new Global Capability Centre in Hyderabad, India.
