Flutter Entertainment announced that its well-known online poker brand, PokerStars, will have a reduced profile in Brazil starting in December. It will become a poker-only brand for that country. The reason is streamlining and adjustment of brands that Flutter will offer in Brazil. This is as Brazil launches a new regulatory framework for online sportsbetting, as well as casino-style iGaming, except for online poker in early next year.
Brazil is one of the most vibrant markets of PokerStars.com. This is where PokerStars offers online sportsbetting and casino games in addition to its core service of online poker. Those services will end on December 16 this year, except for poker. This is weeks before the regulatory regime of Brazil goes into effect in January 2025.
Flutter will not abandon sports betting and casino games for its Brazilian customers. Instead, Flutter will direct Stars customers to other brands that have applied for licensing in those segments. Betnacional is anticipated to become the leading new brand, under which Flutter will consolidate its sports betting services.
Other operators such as WPT Global and 888 have already announced a withdrawal of non-poker services in the country.
On a related news, Flutter paid $350 million last September to buy NSX Group, Betnacional’s corporate parent, with its eye on the upcoming regulatory shift. Betnacional is already the fourth-largest online sportsbetting brand in Brazil, as noted in a Flutter update on the acquisition published last month. Betnacional currently holds a 12% share of online sportsbetting market of Brazil, according to Reuters.
