Flutter Entertainment has announced the acquisition of a 56% stake in Brazilian betting firm NSX Group, valued at approximately $350 million, as part of its global expansion strategy. This deal, which combines Flutter's existing Betfair Brazil business with NSX, will establish a new entity called Flutter Brazil and is expected to be completed by the second quarter of 2025. NSX, known for its Betnacional brand, is the fourth-largest gambling operator in Brazil and is projected to generate $256 million in revenue and $34 million in Adjusted EBITDA by 2024. Flutter’s CEO, Peter Jackson, expressed optimism about leveraging local expertise to capitalize on Brazil's growing online sports betting market, set to fully regulate by early 2025. The acquisition is seen as a strategic move to secure a leading position in a market that has seen significant growth, with a compound annual growth rate of 38% since 2018. Flutter is also positioned to increase its stake in NSX through future arrangements in the coming years.