Zona de Azar Brazil – Brazil: Flutter Negotiates the Purchase of Betnacional for £ 1 Billion
Brazil.- August 16, 2024 www.zonadeazar.com The British betting giant, Flutter Entertainment, is in negotiations to acquire Betnacional for £ 1 billion. Founded in 2021, Betnacional stands out for its online casino games and poker, currently representing 7.3% of the Brazilian market.
Flutter Could Acquire Betnacional at a Strategic Moment
The acquisition of Betnacional could occur at a strategic moment, just before the regulation of sports betting in Brazil, scheduled for January.
The company, which recently expanded its focus to sports betting, seeks to attract the vast base of football fans in the country, strengthening its position in the market.
Flutter aims to consolidate its global presence, betting on the growth of the Brazilian market. CEO Peter Jackson highlighted the interest in expanding in Latin America, taking advantage of the imminent regulation.
The acquisition of Betnacional could generate significant synergies for Flutter, both in terms of costs and revenues. Analysts believe that the company is strengthening its position in a competitive market, contested by giants such as Betano, Bet365, and Entain.
In addition to its interest in the Brazilian market, Flutter is also eyeing other opportunities. There are rumors that the company is considering a partnership with Boyd Gaming for a USD 9 billion bid for Penn Entertainment, an American rival.
Company Shares Rise After Announcement
Flutter’s shares continue to rise, reflecting market confidence in the company’s strategy. With brands like FanDuel and PokerStars, Flutter is well-positioned to seize new opportunities, especially in emerging markets like Brazil.
With the regulation of betting in Brazil approaching, the acquisition of Betnacional could solidify Flutter as a leader in one of the most promising markets.
This strategy is expected to expand its global presence as the company explores new opportunities in the betting sector. On Tuesday afternoon in New York, Flutter’s shares rose USD 1.35, or 0.7%, to USD 189.65.
Edited by: @_fonta www.zonadeazar.com
