MGM and Grupo Globo Form Joint Venture to Enter Brazil’s Betting Market

Strategic Alliance to Tap Into Brazil’s Growing Market

The partnership between MGM and Grupo Globo aims to capitalize on the vast potential of Brazil’s regulated gambling sector, which is valued at over $3 billion.

With more than 20 million active sports bettors, the market is expected to grow significantly in the coming years. If the license is approved by the end of the year, the new venture will launch in early 2024 under the BetMGM brand.

Leveraging Local Expertise and Advanced Technology

The joint venture will be headquartered in Sao Paulo, with a team of local experts guiding its expansion.

Leveraging Grupo Globo’s extensive consumer knowledge and MGM’s technological capabilities, particularly through LeoVegas, the venture is poised to establish a strong presence in Brazil’s vibrant market.

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