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Business
September 13, 2024
Flutter to Form Flutter Brazil via Acquisition of 56% Stake in NSX
Sportsbook and iGaming juggernaut Flutter Entertainment has unveiled a major investment in Brazil that would grow its local footprint. The deal reflects the company’s overall expansion strategy and orientation toward global markets. Flutter to Acquire a 56% in NSX in Q2 2025 According to Flutter’s official announcement, it has paid some $350 million to acquire […]
Industry
September 10, 2024
Brazil Takes a Stance against Riskier Games, Blocks a Dozen Sites
Brazil continues its journey toward regulated betting by taking action against games that are deemed harmful. To that end, the São Paulo Ministry of Finance targeted games that offer unrealistic returns, including titles such as Fortune Tiger and Fortune Dragon, among additional slots and other games. A New Measure Will Restrict Predatory Games The Ministry […]
Industry
August 21, 2024
Brazil Records 113 License Submissions as Application Window Closes
As Brazil continues its inexorable journey toward regulated online sports betting, dozens of new companies have applied for a license. On the final day for submissions alone, Brazil recorded more than 50 new applications. Fewer Companies Applied for a License Than Expected The last day for the license application was August 20. So far, 113 […]
Industry
August 20, 2024
Brazil Wants Harsher Punishments for Match Manipulators
Brazil’s Supporter Statue (Law 10,671/03) currently punishes those found guilty of match-fixing with prison between two and six years and a fine. The Chamber of Deputies‘s Constitution and Justice Committee (CCJ) has now recently passed bill 515/2023 aimed to alter the Supporter Statute by boosting penalties for sports professionals involved in match-fixing. The project proposed […]
Industry
August 16, 2024
MGM, Grupo Globo Form Joint Venture to Enter Brazil’s Betting Market
The leading gaming, betting and hospitality company, MGM Resorts International, announced a major move toward the gambling sector in Brazil. On Thursday, the company announced a new collaboration with Latin America’s largest media group, Grupo Globo, for the formation of a new venture that will seek an iGaming and sports betting license in Brazil. The […]
Business
August 6, 2024
Nuvei Acquires Licensed Brazilian Payment Institution
Nasdaq-listed, Canadian fintech company Nuvei Corporation has entered into a definitive agreement to acquire licensed Payment Institution Pay2All. The decision, considered a strategic milestone for the company, is expected to improve Nuvei’s capabilities in the domestic market in Brazil while strengthening its commitment to the Latin American (LATAM) region. The license of the Central Bank […]
Industry
August 5, 2024
Brazil Enhances Gambling Advertisement Regulations
The Brazilian government has published new rules and provisions governing how fixed-odds betting businesses advertise their products, specifically concerning the use of social media influencers. The new requirements were introduced via Ordinance SPA/MF No. 1,231/2024 and represent another vital milestone in Brazil’s efforts to modernize its gambling market. Regulations Reflect Evolving Market Realities The new […]
Industry
July 1, 2024
No Need to Rush on the Casino Bill Vote Until August, Brazil’s Senate Says
Brazil, the country that took center stage in gambling regulation in February after completing the regulation process and finding the right mix between player protection and commercial interests, is on the verge of seeing land-based casinos get finally regulated. The legislation that also covers horse racing, instant win jogo do bicho games, and bingo is […]
Industry
June 21, 2024
Brazil Commission Approves Casino and Bingo Bill Amid Ongoing Reforms
Brazil continues to reform its gambling framework amid efforts to expand the industry. Pro-gambling activists just marked a major victory as bill 2,234/2022 was approved by the Senate’s Constitution and Justice Committee. With 14 votes in favor of the measure and 12 votes against, the measure could usher in land-based casino gaming and instant win […]
Industry
June 12, 2024
Senator Irajá Believes Brazil’s IRs Can Raise Up to $ 7.5bn
The wind of change is blowing over Brazil as the trend aimed at the legalization of gambling is getting more and more backed up by voices using the revenue argument. During an interview for Brazil’s important outlet for economy, finance, and business, Valor Econômico, senator Irajá Silvestre Filho said the country could record revenue of […]