Flutter Entertainment has completed its acquisition of a 56% stake in Brazil’s NSX Group for approximately $350m in cash. NSX operates the fast-growing Betnacional brand and is one of the top players in Brazil’s rapidly expanding online betting market.
The deal was first announced by NEXT.io in August last year.
The deal, Flutter said, strengthens its presence in the newly regulated Brazilian market and supports its long-term strategy to secure leadership positions in key international territories.
“The transaction demonstrates Flutter’s powerful optionality as an ‘and’ business and aligns perfectly with our strategy for value creating M&A,” said Flutter CEO Peter Jackson.
