MGM Resorts International is set to launch in Brazil in partnership with Latin American media group Grupo Globo, creating the BetMGM sports betting and gaming brand in the country.
If the Secretariat of Prizes and Betting (SPA) approves BetMGM’s license, the joint venture would launch in Brazil in early 2025, combining MGM Resorts’ gaming and entertainment expertise and LeoVegas’ technology with Grupo Globo’s consumer insights, which “reaches nearly 70 million people every day through its multiple channels.”
“MGM Resorts is committed to becoming the world’s premier gaming entertainment company, and this strategic alliance with Grupo Globo, and entry into the Brazilian market, is a landmark step forward and key milestone in our growth strategy,” commented Bill Hornbuckle, CEO & President of MGM Resorts.
BetMGM Brazil, based in Sao Paulo, will hold exclusive rights to all MGM Resorts brands, leveraging the customer base of both MGM and Grupo Globo.
The partnership will establish a management team consisting of skilled existing staff, along with new hires, to oversee daily operations and drive growth.
Earlier this month, the SPA issued Resolution No. 1231, outlining regulations and guidelines for gambling operators related to responsible gaming, as well as for communications, advertising, public relations, and marketing activities.
Hornbuckle added: “Brazil is one of the most exciting and vibrant emerging gaming markets in the world, and no one has more exposure and expertise in this market than Grupo Globo.
“This historic alliance allows us to quickly enter the market with the scale and expertise needed to establish an early foothold as a leading operator and provider of the very best experience to customers across Brazil.”
MGM Resorts’ new venture into Brazil comes as the operator recently reported a “positive” Q2 2024 while also expressing confidence in their BetMGM joint venture in the US with Entain.
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