MGM Resorts International building. Source: Shutterstock

MGM Resorts International and Grupo Globo Partner for Brazilian Gaming Initiatives

MGM Resorts International, a leading player in gaming, betting, and hospitality, has announced a collaboration with Grupo Globo, Latin America’s largest media organisation. The aim of this partnership is to establish a new entity that will pursue a gaming and betting licence in Brazil.

The companies have indicated that, pending successful licensing, they plan to introduce their betting and gaming services to Brazilian customers by the end of the year, operating under the BetMGM brand. Bill Hornbuckle, president and CEO of MGM Resorts, emphasised the company’s ambition to become the leading gaming firm globally and noted that this strategic partnership with Grupo Globo marks a significant advancement in their growth strategy.

He highlighted Brazil as one of the fastest-growing gaming markets worldwide, emphasising Grupo Globo's unmatched experience in this sector.

It’s important to note that Brazil's regulated gambling market is valued at over $3 billion, with more than 20 million active sports bettors. Furthermore, the betting sector in the country is expected to experience double-digit growth annually.

18 August 2024, 09:26

Betting Partnership Gambling Latin America

Betting

ESPN Bet Could Launch in New York by Weekend

24 September 2024, 08:30

Brazil sets deadline for unlicensed gambling operators

18 September 2024, 15:49

BetMGM Becomes General Partner of USA TODAY Sports

17 September 2024, 09:01

Flutter Entertainment buys more than 56% of Brazil's NSX Group

14 September 2024, 10:06

Three times more bets were placed on the Paris Olympics than on the Beijing Games