Flutter Entertainment completed its acquisition of a 56% stake in Brazil’s NSX Group for approximately $350m in cash, the company said. Flutter expects the acquisition to add about $220m in revenue in 2025 and produce an adjusted EBITDA loss of $70m.
The acquisition combines NSX with Flutter’s Betfair Brazil operations and is expected to add revenue while producing an adjusted EBITDA loss.
Quarter ended 30 September 2026
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Flutter said it will close Betfair’s operations in Brazil and reduce its workforce across several business areas, following a review of its commercial strategy. The company said it will focus on Betnacional and linked the workforce reductions to uncertainty surrounding Provisional Measure 1.394/2026; it gave no number of affected employees.
Flutter Brazil marked one year operating in Brazil’s regulated sports betting market, bringing together Betnacional and Betfair Brazil. The company said it had doubled its workforce and expanded its local operations; its platforms offer deposit limits, usage-time controls, temporary pauses and self-exclusion tools.
Flutter reported first-quarter 2026 net income of $209 million, down 38% year on year, and reduced its full-year forecasts, according to the company. It now expects revenue of $18.305 billion and adjusted EBITDA of $2.865 billion, citing sports results, Arkansas launch costs and PokerStars North America reporting changes. Flutter said prediction-market losses are expected near the top of its previously stated $250 million to $300 million investment range for 2026.
Flutter Brazil, which operates the Betnacional and Betfair brands, joined the Associação Brasileira de Anunciantes, the company said. It said it was the first online betting company to join the association and that it aims to contribute to discussions on responsible advertising in Brazil.
Flutter Brazil said it appointed Diego Buriti as Head of Online Media. The company said Buriti has worked in iGaming operations and previously held roles at Globo, FOX, Disney and Sony Pictures.