Flutter Entertainment Bets Big In Brazil With $350M NSX Stake: Details
Portfolio Pulse from Lekha Gupta
Flutter Entertainment is acquiring a 56% stake in Brazil's NSX Group for $350 million, aiming to expand its presence in the Brazilian market. The deal includes cash payment and contribution of Flutter's Betfair Brazil business. The transaction is expected to close by Q2 2025, pending regulatory approvals.
September 13, 2024 | 12:39 pm
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Flutter Entertainment is acquiring a 56% stake in NSX Group for $350 million to strengthen its position in the Brazilian market. The deal involves cash and the Betfair Brazil business, with expected revenue synergies and market share growth.
The acquisition aligns with Flutter's strategy to expand in international markets, particularly in Brazil, which is rapidly growing. The deal is expected to bring revenue synergies and market share growth, although it will initially result in an EBITDA loss. The market's positive growth potential and strategic alignment suggest a likely positive impact on Flutter's stock.
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