As the industry giant Flutter International completes the acquisition of key assets of the Brazilian market, Betnacional's parent company NSX Group, NSX CEO João Studart will fully lead the merged Flutter Brazilian operations. This business unit will consist of the existing Betfair Brazil operations and NSX, further consolidating Flutter's position in the Brazilian betting market.
Acquisition Details and Progress
In September last year, Flutter signed an agreement to acquire an initial 56% stake in NSX Group, with a total transaction value of $356 million, expected to be completed in the second quarter of 2025. This acquisition, as planned, facilitated the establishment of the new Flutter Brazil division led by Studart. Additionally, Flutter has also increased its overall shareholding in NSX through mechanisms.
João Studart on the Merger and Future Vision
Studart stated on LinkedIn that he would lead the merged business into a new phase. He emphasized that this acquisition is profound for NSX, not just a rebranding, but also represents an upgrade in business strategy.
He said, "Today, we start a new chapter. This is a recognition of NSX's success as a Brazilian startup, which has become a leader in the gambling and digital entertainment field with strategic vision, outstanding talent, and continuous innovation, owning significant brands such as Betnacional."
Creating a Responsible and Localized Betting Experience
Since 2020, as NSX CEO, Studart believes that as part of Flutter, the merged business will have a stronger impact, connecting to the world's largest betting platform resources.
"This merger broadens our channels to access technology, talent, and capital, enhancing our innovation capabilities and market influence. Combined with the Betfair brand, our Brazilian operations will be more unified and targeted—providing users with a safer, more fitting, and responsible betting experience," he said.
"We will continue to uphold the genes that drive our growth, creating the future with greater strength. The new chapter of Flutter Brazil has begun, and we will move forward with clear goals, a sense of responsibility, and a commitment to key matters."
Acquisition Aids Revenue and Market Expansion
In the acquisition confirmation statement, Flutter revealed that NSX will drive its market share increase and future profit growth in Brazil. This transaction is expected to bring about $220 million in new revenue to Flutter by 2025.
Flutter CEO Peter Jackson stated, "This acquisition fully reflects Flutter's precise 'selective acquisition' strategy, perfectly fitting our value-creating merger and acquisition goals. NSX's rich local experience, our existing operations, and the advantages of the Flutter Edge platform combine to create an extremely attractive opportunity, helping us seize the future growth potential of the Brazilian market."
Jackson also pointed out in the first quarter financial report conference call that this transaction has enhanced Flutter's competitive position in fast-growing and newly regulated markets. He emphasized, "Betnacional has a strong local management team, proprietary technology, and well-known local brands, combined with our existing Betfair Brazil operations and Flutter Edge capabilities, will drive our success in this exciting market."
