sports news
MGM Partners with Grupo Globo to Tap into Brazil’s Betting Industry
MGM Resorts International has announced a strategic partnership with Grupo Globo, Latin America’s largest media group, to venture into Brazil’s booming betting market.
The joint venture will pursue an iGaming and sports betting license, with plans to launch BetMGM’s services in Brazil by early 2024.
Expanding BetMGM’s Reach into Brazil
MGM’s entry into Brazil’s gambling sector, in collaboration with Grupo Globo, highlights the company’s commitment to becoming the world’s premier gaming entertainment provider.
Brazil’s betting market, with its $3 billion valuation and growing number of sports bettors, presents a significant opportunity for expansion. The venture is expected to launch next year, pending regulatory approval. Sports betting is one of the fastest growing fields nowadays with new collabs happening daily.
A Winning Combination of Expertise and Innovation
The joint venture will establish its headquarters in Sao Paulo, leveraging Grupo Globo’s deep consumer insights and MGM’s technological prowess through LeoVegas.
With Grupo Globo’s daily reach of 70 million people, the venture is well-positioned to capture a substantial share of Brazil’s dynamic betting market.
