Nexus International has secured its position as an early entrant into Brazil’s newly regulated iGaming sector, leveraging swift licensing approvals to drive record performance in the first half of 2025. The privately held operator reported $546 million in H1 revenue, a 110% year-on-year increase, and attributed much of that growth to its early compliance and market entry in Brazil.
Brazil formally enacted Law 14,790/2023 in December last year, transitioning its online betting and gaming industry from a grey market to a fully regulated environment. The legislation introduced strict operational requirements, including fixed-odds betting licensing, defined tax rates, and mandatory player verification protocols such as facial recognition and Central Bank–authorised payment account linkage. Many global operators have been vocal about onboarding frictions and delays in adapting their systems to the new framework.
“Being early in Brazil wasn’t just a strategic preference, it was an operational imperative,” said Nexus founder and CEO Gurhan Kiziloz. “Licensing early gave us the ability to launch with a compliant framework from day one, while others are still adjusting their customer onboarding to meet the new standards.”
Brazil’s iGaming market is forecast to exceed $3 billion in annual revenues by 2030, with the current growth phase dominated by sports betting but a rising contribution from online casino formats. Analysts see early licensees benefiting from elevated brand trust, faster payment integrations, and the ability to market openly without legal uncertainty.
Nexus’s Brazil-facing platform Megaposta has been a central driver of growth under the new regime, reporting strong user retention rates and consistent transaction volume. According to Kiziloz, the brand’s positioning has been aided by its ability to work directly with local payment providers, affiliate networks, and regulators from the outset.
The competitive context reinforces the value of early adaptation. Flutter’s Betfair business reported a 44% decline in Brazil revenue in Q1 2025, citing activation drop-offs linked to facial-recognition onboarding. By contrast, NSX Group, soon to be acquired by Flutter for $356 million, saw 20% growth in the same period, thanks to earlier compliance. Entain, another publicly listed competitor, recorded 31% Brazil growth in Q1, also benefiting from rapid licensing execution.
For Nexus, regulatory readiness was supported by its privately controlled governance model, which allows major operational decisions to be implemented without multiple board layers or investor sign-off. “Speed of adaptation is often a structural issue, not just a tactical one,” said Kiziloz. “Our model lets us make the call on compliance investments quickly, which in turn gets us to market faster.”
The company has reinforced its Brazil commitment with the opening of a regional hub in São Paulo, which will serve as its primary Latin America base. The new office will coordinate market-specific marketing, compliance monitoring, and partnership development. São Paulo, home to Brazil’s largest financial institutions and digital economy talent, is seen as the most strategic location for operators looking to deepen their LATAM presence.
Brazil’s move to a regulated framework has also tightened marketing freedoms, a trend Nexus expects to accelerate. By establishing a strong footprint early, the company aims to secure lasting brand visibility before potential advertising restrictions mirror those in European markets like Spain and Italy.
While Nexus now ranks among the top 100 global gaming operators by revenue, Kiziloz emphasised that its Brazil strategy is built for durability, not short-term share spikes. “This is about building a sustainable position in a market that will still be growing five, ten years from now,” he said. “The regulatory environment will evolve, but so will we.”
Looking ahead, Nexus plans to expand its product mix in Brazil, with additional investment in localised content and live dealer formats designed for mobile-first users, a critical consideration in a country where 88.9% of the population over 10 owns a smartphone.
“Our operational thesis is simple,” Kiziloz added. “Be early, adapt quickly, and make sure the infrastructure is in place before the market inflection point hits. In Brazil, that inflection is happening right now.”
Produced with the assistance of a news-analysis system.