Las Vegas casinos target Brazil’s booming online betting market

Sudhanshu Ranjan October 3, 2024

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Las Vegas casinos target Brazil’s booming online betting market

World-renowned casinos like MGM Grand, Caesars Palace, and Hard Rock Cafe are turning their attention to Brazil, a market showing great potential in the online betting industry. With online betting gaining momentum in Brazil, these in-person gambling giants are looking to secure their foothold in a market poised for growth.

Brazil’s unique gambling landscape

Brazil’s approach to gambling has been quite unique compared to other parts of the world. While many countries first organised in-person gambling under state regulations, Brazil legalised online betting before regulating the physical betting market. This reverse process has opened the doors to online betting companies while in-person gambling still faces hurdles.

Brazil’s online betting sector has seen rapid growth over the past few years, driven by legislative changes and a burgeoning interest in sports betting. This has caught the attention of major players like Caesars Palace and MGM Grand, who are already taking significant steps to enter the online betting space.

Rise of online betting

Caesars Palace is not wasting any time. The company has already secured a licence from Loterj to operate in Rio de Janeiro, marking its official entry into the Brazilian market.

MGM Resorts, another major player from Las Vegas, has already invested $10 million in a partnership with Grupo Globo to launch BetMGM in Brazil. Bill Hornbuckle, MGM’s CEO, emphasised that this venture aims to introduce Brazilian customers to the same thrill and excitement experienced in Las Vegas casinos, but in an online format.

Hard Rock Cafe, another iconic name in entertainment and gambling, is also eyeing the Brazilian market. The company has expressed interest in entering the online betting industry while also keeping an eye on the possibility of opening physical casinos in the future. They are looking to establish their brand presence in the country before potentially setting up physical casinos.

Executives from Las Vegas-based companies believe that Brazil holds tremendous potential for in-person casinos. The Brazilian government’s involvement is crucial in shaping the future of gambling in the country.

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