The American group MGM, known for its restaurant, resort and casino businesses in Las Vegas, is negotiating the purchase of the Brazilian betting house KTO.
The value of the transaction is estimated at around 175 million dollars. This could be the first major acquisition in the betting sector in Brazil.
In addition to MGM, another American group, DraftKings, traditional in the sports betting segment, is eyeing the Brazilian market.
The company is considering entering Brazil through acquisitions or partnerships, but is awaiting approval of sector regulations to move forward with its plans.
MGM Group
MGM is an American conglomerate headquartered in Beverly Hills, California. Founded in 1924, the company has gained widespread recognition for its film and television production.
In addition to entertainment, MGM has diversified its business, operating resorts, casinos and restaurants in iconic locations such as Las Vegas. MGM is an established name in the global hospitality and entertainment industry.
The company recently closed The Mirage Hotel to begin construction on a guitar-shaped hotel, almost 213 meters tall, similar to the Seminole Hard Rock Hotel and Casino in Hollywood, Florida.
The new complex will be renamed “Hard Rock Hotel & Casino and Guitar Hotel Las Vegas” and is scheduled to open in 2027.
About DraftKings
DraftKings is an American sports betting and fantasy sports company, founded in 2012 and headquartered in Boston, Massachusetts. It offers an online betting platform for daily and weekly sports, covering a wide range of sports.
DraftKings is known for its innovation in the betting industry, providing a dynamic and interactive user experience.
About KTO
KTO is an online betting house with international operations, including Brazil. The company offers a variety of sports betting and casino gaming options. Focused on emerging markets, KTO seeks to expand its global presence, providing an accessible and diverse platform for betting enthusiasts.
