News Formal

Flutter Acquires Controlling Stake In Brazilian Betting Company For $350 Million

  • 📰 IrishTimes
  • ⏱ Reading Time:
  • 30 sec. here
  • 7 min. at publisher
  • 📊 Quality Score:
  • News: 32%
  • Publisher: 98%

Business 뉴스

Flutter Entertainment,Brazil,Betting

Flutter Entertainment, the parent company of Paddy Power Betfair, has acquired a controlling 56% stake in NSX Group, the operator of Brazil's Betnacional brand. This move positions Flutter for growth in the burgeoning Brazilian betting market, which is expected to fully regulate its online sports betting and iGaming sector early next year.

Paddy Power Betfair parent Flutter has acquired a controlling stake in a leading Brazilian betting company for $350 million in cash.

Flutter said NSX is expected to generate revenue of approximately $256 million this year, as well as adjusted earnings before interest, taxes, depreciation and amortisation of $34 million. NSX entered the market in 2021 and is now the number four operator in Brazil with 12 per cent of the sports betting market and 9 per cent share of the online market.

“In line with our successful strategy in other newly regulated markets such as the US, we expect to drive market share growth and embed future profitability through disciplined customer investment,” the company said.

이 소식을 빠르게 읽을 수 있도록 요약했습니다. 뉴스에 관심이 있으시면 여기에서 전문을 읽으실 수 있습니다. 더 많은 것을 읽으십시오:

 /  🏆 3. in KR
 

귀하의 의견에 감사드립니다. 귀하의 의견은 검토 후 게시됩니다.

대한민국 최근 뉴스, 대한민국 헤드 라인

Similar News:다른 뉴스 소스에서 수집한 이와 유사한 뉴스 기사를 읽을 수도 있습니다.

Millennium Management shorting €200m-plus worth of shares in Irish companiesUS hedge fund sets its sights on Flutter and Bank of Ireland
출처: IrishTimes - 🏆 3. / 98 더 많은 것을 읽으십시오 »

Corre Energy parent pledges 15.4% stake in Dublin company as loan securitySeparately, Boyd family acquires 19.3% stake in Irish business as payment for loan
출처: IrishTimes - 🏆 3. / 98 더 많은 것을 읽으십시오 »