Flutter Entertainment, a British betting giant, is negotiating the purchase of Betnacional for £1 billion. Betnacional, founded in 2021, focuses on online casino and poker games and currently represents 7.3% of the Brazilian market.
Flutter could acquire Betnacional at a strategic time
The acquisition of Betnacional could occur at a crucial time, just before the regulation of sports betting in Brazil, which begins in January.
The company, which recently expanded its focus to sports betting, seeks to win over the country’s vast football fan base, strengthening its position in the market.
Flutter seeks to consolidate its global presence while betting on the growth of the Brazilian market. CEO Peter Jackson emphasized the interest in expanding in Latin America, taking advantage of imminent regulation.
The acquisition of Betnacional could bring important synergies to Flutter, both in costs and revenues. Analysts believe that the company strengthens its position in a competitive market, competed for by giants such as Betano, Bet365 and Entain.
In addition to its interest in the Brazilian market, Flutter is also keeping an eye on other opportunities. The company is rumored to be considering a partnership with Boyd Gaming for a $9 billion bid for American rival Penn Entertainment.
Company shares rise after announcement
Flutter’s shares continue to rise, showing the market’s confidence in the company’s strategy. With brands like FanDuel and PokerStars, Flutter is well positioned to seize new opportunities, especially in emerging markets like Brazil.
Therefore, with betting regulation in Brazil approaching, the acquisition of Betnacional could consolidate Flutter as a leader in one of the most promising markets.
The expectation is that this strategy will expand its global presence, while the company explores new opportunities in the betting sector. Flutter shares rose $1.35, 0.7%, to $189.65 on Tuesday afternoon in New York.
