Flutter Entertainment the world’s leading online sports betting and iGaming operator today announces that it has completed the acquisition of an initial 56% stake in NSX Group, a leading Brazilian operator of the Betnacional brand for cash consideration of approximately $350m.

In line with our successful strategy in other newly regulated markets, we expect to drive market share growth and embed future profitability through disciplined customer investment.

We expect that the acquisition of NSX will contribute $220m additional revenues and an adjusted EBITDA loss of $70 in 2025, reported within the International reporting segment.

Peter Jackson, CEO, commented: “I am delighted to welcome NSX – the operator of leading Brazilian sports betting and iGaming brand, Betnacional – to the Flutter portfolio.

The transaction demonstrates Flutter’s powerful optionality as an ‘and’ business and aligns perfectly with our strategy for value creating M&A.

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.”