MGM Resorts has signed a deal with Grupo Globo to launch a BetMGM branded platform in Brazil, estimated for early 2025.
This will be subject to the acquisition of the necessary licences to run a sports betting and iGaming platform in the jurisdiction.
The venture will combine LeoVegas’ technology with Grupo Globo’s regional consumer knowledge to create a product filled with MGM Resorts’ content and brands.
Bill Hornbuckle, MGM Resorts CEO & President said: "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.”
To support the product, a headquarters will be established in Sao Paulo and a leadership team will be formed with talent from both companies.
MGM has confirmed that new hires may also be brought on board to ensure a smooth launch and ongoing operational lifespan.
Hornbuckle continued: "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."
More details regarding the joint venture between MGM and Grupo Globo can be expected once it’s cleared local gaming regulatory approvals.
On the topic of licences, Softswiss is poised to become the first certified software provider in Brazil while still providing aid to those affected by recent floods.
