- MGM Resorts will enter Brazil’s sports betting market in a partnership with Grupo Globo.
- Grupo Globo is Latin America’s largest media group.
- The ETA for BetMGM’s Brazil launch is early 2025.
MGM Resorts International and Grupo Globo, Latin America’s largest media group, have announced a groundbreaking partnership to launch a new sports betting and iGaming venture in Brazil under the BetMGM brand. The joint venture is set to debut in early 2025, contingent upon the approval of a sports betting and iGaming license, which is expected later this year. This strategic move aims to bring a top-tier betting platform to one of the most rapidly expanding regulated markets in the world.
The partnership between MGM Resorts and Grupo Globo is poised to leverage the strengths of both industry giants. MGM Resorts brings its extensive gaming and entertainment expertise, along with the proven technology of its LeoVegas platform, to the table. On the other hand, Grupo Globo contributes its deep understanding of the Brazilian market and its unparalleled reach, engaging approximately 70 million people daily through its diverse media channels. This collaboration is expected to create a product of significant scale, combining world-class technology with local market insights, designed to set a new standard in the Brazilian betting industry.
The Brazilian market, with over 20 million active bettors and an estimated market size exceeding $3 billion, represents a tremendous growth opportunity. The market is currently experiencing double-digit growth annually, making it one of the most dynamic and promising regions for the expansion of regulated sports betting and iGaming.
MGM Resorts CEO and President Bill Hornbuckle highlighted the strategic importance of this alliance, stating, “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. 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.”
The new BetMGM-branded venture will have exclusive rights to all of MGM Resorts’ iconic brands, further strengthening its position in the market. By capitalizing on the established customer bases of both MGM Resorts and Grupo Globo, the venture aims to quickly build a distinctive product that resonates with Brazilian bettors.
To ensure smooth and effective operations, the venture will establish its headquarters in São Paulo. A leadership team composed of top talent from both MGM Resorts and Grupo Globo, along with additional new hires, will oversee the venture’s development and day-to-day activities. This team will be instrumental in driving the venture’s growth and ensuring it meets the high standards expected in such a competitive and rapidly evolving market.
However, the commencement of operations for this new venture is subject to the necessary approvals from local gaming regulators. Given the current momentum in Brazil’s regulatory environment, there is cautious optimism that the licensing process will proceed smoothly, allowing the venture to meet its planned launch date.
This new venture marks a significant milestone in MGM Resorts’ global expansion strategy, reinforcing its commitment to becoming a leader in the global gaming entertainment industry. With Grupo Globo’s unparalleled market presence and MGM’s industry expertise, the BetMGM brand is set to make a powerful entrance into Brazil, offering an innovative and engaging betting experience tailored to the unique preferences of Brazilian consumers.
As Brazil continues to emerge as a key player in the global sports betting and iGaming landscape, this alliance between MGM Resorts and Grupo Globo is poised to set a new benchmark in the industry, combining cutting-edge technology with deep local insights to deliver an unmatched customer experience.
