Flutter Brazil has announced a new leadership structure with a new chair and CEO, in what the operator has called a “natural evolution”.
The overhaul will see CEO João Studart step into the chair role and current COO Eduardo Monte become CEO, reporting directly to Flutter International chief Dan Taylor.
The Flutter Brazil entity was created after Flutter acquired a majority stake in NSX Group at the end of 2024, subsequently merging it with the existing Betfair Brazil brand.
NSX Group owns a host of Brazil-facing bookmakers, with its flagship brand being Betnacional.
Monte assumes his new position after two years as COO. Previously, he was M&A director at healthcare provider Hapvida for seven years.
Studart had served as NSX Group CEO since 2020 and retained the role after Flutter snapped up a 56% stake in the company for $350m.
Since the NSX buyout announcement, Flutter Brazil has taken on a new chief legal officer and chief marketing officer.
A Flutter Brazil statement read: “With the maturation of operations in the country and the strengthening of our role within Flutter Entertainment , we announce a new leadership structure that marks the natural evolution of the company and reflects our commitment to sustainable growth, responsibility and continuous innovation.
“This new structure strengthens a Flutter Brazil that is even more prepared for the future and guided by the values that brought us here: integrity, innovation and teamwork.
“We continue to move forward with purpose and build an ecosystem that unites technology, entertainment and responsibility to transform the igaming market in Brazil and around the world.”
Last week the Brazilian Senate’s Economic Affairs Committee approved a bill raising gambling duty from 12% to 18% by 2028.
The regulated Brazilian market launched on 1 January 2025. As per Flutter’s Q3 earnings report, its revenue in Brazil soared 412% YoY to $87m, although without the acquisition of NSX Group, Brazilian revenue decreased 18%.
The drop was attributed to “Betfair Brazil continuing to recover from the customer re-registration friction following introduction of regulation in January”.
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The post Flutter Brazil unveils leadership reshuffle first appeared on EGR Intel.
Current boss João Studart to step up and become chair, with COO Eduardo Monte to take over as CEO for the local division
The post Flutter Brazil unveils leadership reshuffle first appeared on EGR Intel.