MGM Resorts International and Grupo Globo, Latin America’s largest media group, have announced the creation of a new venture to pursue a sports betting and iGaming license in Brazil. If granted later this year, the venture plans to launch in early 2025 under the BetMGM brand, introducing a responsible and comprehensive betting platform to Brazil’s newly regulated market.
This partnership combines MGM Resorts’ gaming and entertainment expertise with Grupo Globo’s deep consumer knowledge and extensive reach of 70 million people daily. The venture will leverage the proven LeoVegas technology and have exclusive rights to MGM Resorts’ iconic brands, aiming to create a unique product tailored to the Brazilian market.
With Brazil’s active betting population exceeding 20 million and an estimated market size of over $3 billion, growing annually in double digits, the new venture is poised to tap into significant opportunities. Headquartered in São Paulo, a leadership team will be assembled from both companies, along with new hires, to oversee the venture’s operations and growth in this fast-developing sector.
“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,” said MGM Resorts CEO & President Bill Hornbuckle. “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.”
