Leeds-based online sports betting and iGaming company Flutter, the owner of Sky Bet, has entered the Brazlian market after acquiring NSX Group in a deal worth around £266.3m.

NSX Group operates the Betnacional brand in Brazil and is the fourth biggest betting firm in the country.

The deal is forecast to generate revenues of £195m for Flutter this year, with an EBITDA of almost £26m.

Peter Jackson, CEO of Flutter, said: “I am excited to announce the addition of NSX, operator of Betnacional a leading Brazilian sports betting and iGaming brand, to the Flutter portfolio.

“We believe that combining the extensive local expertise of the NSX team, our existing Betfair business and the power of the Flutter Edge, will create a compelling opportunity to capitalize on the growth opportunity in Brazil which presents an exciting runway of future growth.”