{"id":7727,"date":"2024-08-16T05:27:44","date_gmt":"2024-08-16T05:27:44","guid":{"rendered":"https:\/\/slategray-wallaby-310340.hostingersite.com\/index.php\/2024\/08\/16\/mgm-resorts-eyes-brazilian-sports-betting-license\/"},"modified":"2024-08-16T05:27:44","modified_gmt":"2024-08-16T05:27:44","slug":"mgm-resorts-eyes-brazilian-sports-betting-license","status":"publish","type":"post","link":"https:\/\/casino-online-best.com\/index.php\/2024\/08\/16\/mgm-resorts-eyes-brazilian-sports-betting-license\/","title":{"rendered":"MGM Resorts Eyes Brazilian Sports Betting License"},"content":{"rendered":"
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MGM Resorts International is preparing to launch a new joint venture with Grupo Globo, a major player in Latin American media, to make a big push into Brazil\u2019s sports betting and iGaming sector. The collaboration seeks to get a sports betting and iGaming license in Brazil in light of the nation\u2019s recent completion of its regulatory framework.<\/p>\n

It is anticipated that the planned joint venture will debut under the BetMGM name in early 2025, subject to regulatory permission. Through this partnership, Grupo Globo\u2019s extensive knowledge of the Latin American market will be utilized, putting the company in a great position to take advantage of Brazil\u2019s recent legalization of sports betting. In an effort to demonstrate its dedication to the area, the collaboration intends to locate its headquarters in S\u00e3o Paulo.<\/p>\n

Brazil\u2019s journey to regulating<\/a> its iGaming and sports betting market has been gradual. The country announced the legalization of these activities in December 2023, but the rollout of regulatory guidelines has taken time. With the market expected to officially open by the start of 2025, MGM Resorts and Grupo Globo are poised to capitalize on this emerging opportunity.<\/p>\n

MGM Resorts\u2019 Broader Expansion Strategy<\/strong><\/h2>\n

This announcement aligns with MGM Resorts\u2019 broader strategy to expand its global footprint. The news follows the company\u2019s strong Q2 2024 financial results, where it reported $4.33 billion in total revenue, marking a 9.8% increase compared to Q2 2023.<\/p>\n

Bill Hornbuckle, CEO and President of MGM Resorts, expressed excitement about the venture, stating, \u201cMGM Resorts is committed to becoming the world\u2019s 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.\u201d<\/em><\/p>\n

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