Zona de Azar Brazil – Flutter Boosts Brazil Presence with $350M NSX Group Stake

Brazil.- September 17, 2024 www.zonadeazar.com In a move that underscores its commitment to expanding in international markets, Flutter Entertainment has acquired a significant stake in Brazil’s NSX Group for approximately $350 million.

This acquisition aligns with Flutter’s strategy to cement its leadership in high-growth regions, particularly in Brazil, a market that continues to attract substantial interest from global operators.

NSX Group boasts a strong portfolio of brands, most notably Betnacional, the official sponsor of Brazil’s Serie B football league. With NSX projected to generate $256 million in revenue and $34 million in adjusted EBITDA in 2024, the acquisition presents a significant strategic opportunity for Flutter.

As part of the deal, Flutter will merge its Betfair Brazil operations with NSX, forming a combined Flutter Brazil business. The company believes this merger will strengthen its competitive advantage and create substantial value for shareholders in the newly regulated Brazilian market.

Flutter CEO Peter Jackson expressed enthusiasm about the deal:
“Combining the extensive local expertise of the NSX team with our existing Betfair business and the power of the Flutter Edge presents an exciting opportunity to capitalize on Brazil’s growth potential.”

Beyond financial gains, Flutter sees this acquisition as enhancing its “local hero” portfolio by integrating well-known local brands, thus driving synergies and meaningful value creation in the burgeoning market.

Edited by @pererarte   www.zonadeazar.com