Flutter Entertainment Plc has revamped the leadership of its Brazil unit to drive the growth and market share of its portfolio of brands — Betfair, Betnacional and PokerStars.

Announced yesterday via LinkedIn, the group confirmed the appointment of João Studart as Chairman of Flutter Brazil and Eduardo Monte as the company’s new CEO, in what it described as a “natural evolution” of its operations in one of the world’s most dynamic regulated betting markets.

Studart, formerly Chief Corporate Affairs Officer, will oversee the strategic consolidation of the business and lead Flutter’s institutional engagement across Brazil.

Monte’s focus will be on strengthening corporate visibility and maintaining full regulatory alignment with Flutter International’s global framework. He has been promoted from the position Chief Operating Officer of, and assumes responsibility for the day-to-day running of Flutter Brazil.

Reporting directly to Dan Taylor, CEO of Flutter International, Monte will guide the company through its “next phase of expansion — combining local market insight with the group’s international expertise and operational standards.”

Flutter’s New World Order

The leadership changes come during a year of significant structural reform for Flutter Entertainment, which in 2025 reorganised its global operations into two principal businesses of Flutter US (FanDuel) and Flutter International (ROW brands). 

The move was designed to simplify management and provide greater transparency and clear visibility for shareholders across the NYSE and LSE.

Brazil has become a strategic focus for Flutter International. A key initiative will see Betnacional upgraded to the group’s proprietary Flutter Edge platform, following Flutter’s $350m acquisition of a 56% stake in the brand in 2024. The migration aims to accelerate Betnacional’s position as a “local champion” while leveraging Flutter’s global technology and data ecosystem.

However, 2025 has also brought financial headwinds. Flutter reported statutory losses of $790m in Q3, largely driven by $500m in impairments following the closure of its Junglee India business.

In Brazil, the company faces additional fiscal challenges as the PT government moves ahead with a graduated GGR tax increase — rising from 12% to 15% by 2027, and to 18% by 2028. Flutter is closely monitoring the phased rollout and its potential impact on local operations.

Despite these pressures, the group maintains confidence in the long-term prospects of the Brazilian market. Flutter said the new leadership structure “reflects our belief in the country’s growth potential and our ambition to lead with integrity, innovation and teamwork — the values that define Flutter Brazil’s next chapter.”