Flutter Entertainment PLC (GB:FLTR) has released an update.
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Flutter Entertainment PLC has acquired a 56% stake in NSX Group, a leading Brazilian sports betting and iGaming operator, for $350 million, in a move to bolster its position in the rapidly growing Brazilian market expected to regulate online betting by early 2025. The deal includes Flutter’s existing Betfair Brazil business and aims to create shareholder value by capitalizing on the local market, which has seen a 38% compound annual growth since 2018. Flutter’s CEO is optimistic about the combined entity’s potential to harness the growth opportunity in Brazil.
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