Nexus International has entered the ranks of the world’s top 100 gaming operators by revenue following a strong first half of 2025. The privately held company reported $546 million in revenue for the six months ending June 30, a 110% increase compared to the same period last year. The figure already surpasses its full-year 2024 total of $400 million and has been driven largely by early positioning in Brazil’s newly regulated iGaming sector.
Brazil enacted Law 14,790/2023 in December 2024, introducing a regulated framework for online betting and gaming. The legislation established licensing for fixed-odds betting, defined tax rates, and strict player verification requirements, including facial recognition and Central Bank–linked payments.. Many international operators faced delays adapting to these new standards, slowing customer onboarding and payment processing.
Nexus avoided these setbacks through early compliance. Its Brazil-facing platform, Megaposta, completed licensing ahead of the new framework’s implementation, allowing it to operate under the new rules from day one. This ensured operational continuity while competitors were still adjusting. Industry results underline the advantage; Flutter Entertainment’s Betfair business reported a 44% decline in Brazil revenue in Q1 2025, citing activation drop-offs tied to verification rules, while other early licensees such as NSX Group and Entain saw growth of 20% and 31% respectively.
Megaposta has since recorded strong user retention and consistent transaction volumes, supported by partnerships with local payment providers, affiliate networks, and technology partners. Product localisation and targeted marketing have further reinforced its market share.
Beyond Megaposta, Nexus also runs: Spartans.com, a crypto-native gaming platform offering multi-currency betting, and Lanistar, a licensed gaming brand with a growing footprint in Europe and Latin America. The three platforms collectively operate in more than 40 markets worldwide.
Brazil remains the largest single contributor to the company’s results, with the regulated market forecast to exceed $3 billion annually by 2030. Sports betting dominates the sector, but online casino formats are expected to grow rapidly.
Nexus is entirely self-funded. The company has no external investors, venture capital, or private equity involvement, and operates without a formal board. Strategic decisions are made by a small leadership team, enabling faster execution without the delays of shareholder approval processes.
CEO Gurhan Kiziloz describes this as “controlled scaling”, entering new markets step-by-step, only after optimising existing ones. This measured approach contrasts with rapid multi-market launches common in the industry, which can stretch resources and weaken operational focus.
By relying on existing earnings to fund expansion, Nexus avoids overextending into unproven markets. While the pace can be slower initially, it allows for deeper infrastructure investment and market-specific adaptation.
Reflecting its revenue concentration in Brazil, Nexus has established a regional headquarters in São Paulo. The hub will oversee operations in Brazil and coordinate planned entries into Colombia, Peru, and Chile. Initially housing commercial, compliance, and operations teams, the office may expand into customer service and product development as the company’s Latin American presence grows.
São Paulo’s position as a financial and technology hub offers proximity to regulators, industry partners, and a skilled talent pool. Nexus expects this presence to improve regulatory responsiveness, marketing coordination, and hiring.
Nexus’s $546 million half-year performance places it alongside mid-sized operators such as Betsson AB and Rank Group, though it remains smaller than global leaders like Flutter Entertainment and Entain. Sustaining momentum will require maintaining its early advantage in Brazil, adapting to evolving regulations, and delivering new products tailored to local preferences, particularly for mobile-first users, who make up the majority of Brazil’s gaming market.
With more than half of its 2025 revenue target already achieved, Nexus is projecting a full-year run rate of $1.1–$1.2 billion, with a stretch goal of $1.54 billion. The company’s disciplined approach and early regulatory positioning suggest it will remain a competitive presence in Latin America, though its ability to replicate this model in new markets will determine whether it can climb further up the industry rankings.
