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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 […]
Business
May 27, 2024
Angelo Alberoni Takes Technical Director Role at IBJR
In March last year, nine recognizable gambling operators founded the Brazilian Institute of Responsible Gaming (IBJR). The foundation came at a time when the Latin American country already started to explore options for the legalization of online gambling and sports betting. This process is currently ongoing and Brazilian bettors may be able to place their […]
Industry
May 23, 2024
Brazil Publishes Licensing Requirements for Gambling Operators
On 21 May 2024, Brazil’s Ministry of Finance’s Secretariat of Prizes and Betting published Ordinance SPA/MF nº 827, establishing the regulatory framework for gambling operator licensing. This Ordinance lays out the general rules for the authorization procedure, including the required documentation and applicable deadlines, marking another vital step toward the long-expected launch of the country’s […]
Industry
May 22, 2024
Novibet Joins IBIA Ahead of Brazil License Bid
Novibet, a major online sports betting operator, has become the latest member of the International Betting Integrity Association (IBIA). This move comes ahead of Novibet’s bid for a license in Brazil. For context, Brazil’s regulations require all companies that wish to offer sports betting to join an international integrity body. As a result, multiple sportsbooks […]
Industry
May 21, 2024
Tough Gambling Regulations in Brazil May Boost Black Market, GR8 Tech Warns
Last month, the government in Brazil confirmed its intention to finalize its laws regarding betting and online gaming by this summer. The country’s Ministry of Finance confirmed it expects the regulatory framework to be established in four stages with the last one ending in July. Amid the plans for a regulated iGaming and betting market, […]
