Flutter Entertainment’s Strategic Move in Brazil

Flutter Entertainment is set to make a significant investment in Brazil’s burgeoning gaming market. The company is in advanced talks to acquire Betnacional, one of Brazil’s largest gambling operators, in a deal estimated at £1 billion. Betnacional, currently the fifth-largest gambling operator in Brazil, is owned by the British-based NSX Group and was established in August 2021. Despite its relatively recent entry into the market, Betnacional has managed to secure a market share of approximately 7.3 percent. This places it behind market leader Betano, which holds a commanding 25.1 percent share, and Bet365 and Entain, which hold 16.3 percent and 9.4 percent respectively.

Betnacional’s strength lies in its robust gaming business, with a particular emphasis on casino gambling and poker. However, the company has recently shifted its focus towards sports betting, targeting Brazil’s passionate football fan base. This move coincides with the upcoming regulation of betting in Brazil, set to go live on January 1.

Flutter’s interest in Betnacional is seen as a move to expand its global footprint and take advantage of the impending regulation of betting in Brazil. The company, which owns FanDuel, the leading American operator, recently relocated its primary stock market listing from London to Wall Street, reflecting its growing focus on the American market.