Flutter agrees to acquire 56% of NSX Group in $350m Brazil deal
Flutter said it will acquire an initial 56% stake in Brazilian operator NSX Group and combine it with its Betfair Brazil business. The transaction includes approximately $350m in cash and is expected to close by Q2 2025, subject to regulatory clearances. Flutter said NSX is expected to generate approximately $256m in revenue and $34m in adjusted EBITDA in 2024 on a standalone basis.
The acquisition would combine Betfair Brazil with NSX, subject to regulatory clearance, expanding Flutter’s Brazilian operation.