Flutter reports 44% Brazil revenue drop as NSX acquisition remains on track
Flutter reported a 44% year-on-year fall in Brazil revenue in the first quarter, citing customer sign-up friction linked to new regulatory requirements. Chief executive Peter Jackson said the planned acquisition of NSX Group remained on track for completion in Q2 2025; NSX reported Brazil revenue growth of more than 20% year on year.
The contrasting results and planned acquisition shape Flutter’s position in Brazil’s regulated betting market.