NSX Group developed the NSX sports betting platform. It initially offered to different operators. However, it later chose to use it exclusively for its own brands. This includes Betnacional, Mrjack, and Betpix. NSX Group maintains strong ties with Brazil, with teams based in Recife and São Paulo. This is in spite of being based in the United Kingdom.
The interest of Flutter in Betnacional is seen as as move to expand its global footprint and take advantage of the impending regulation of betting in Brazil. The company is the leading American operator and also owns FanDuel. It previously relocated its primary stock market listing from London to Wall Street. This reflects its growing focus on the American market.
CEO of Flutter, Peter Jackson, highlighted earlier this year the potential of the Brazilian market and the strong balance sheet of the company. It provides the flexibility to get deals or return cash to shareholders. The CEO expressed satisfaction with the performance of PokerStars and Betfair in Brazil. He also emphasized that organic growth is vital for Flutter.
Jackson commented during firm’s second quarter of 2024 earnings call that Flutter is aiming for podium positions in Brazil. He said when asked about Flutter’s positioning in Brazil and potential M&A deals that he thinks they’re reasonably well placed with their Betfair brand in that market. And of course, they also operate PokerStars there as well. They are ambitious, and he really would like to have gold medal positions.
He added that while Flutter has achieved success organically in many markets, M&A remains an essential tool for growth. Jackson said they will work out what they want to do in Brazil, and when they’ve made a decision, they’ll let the market know.
