MGM Resorts, a North American casino giant, and Grupo Globo announced this Tuesday (4) a joint venture (a company structured by more than one company) to operate the BetMGM betting platform in Brazil.
The objective is to adapt the service already used globally by MGM to the Brazilian public, incorporating Globo’s intellectual properties.
From February 13th, advertising campaigns will be broadcast in out of home (OOH), Spotify, cinema, radio and television. The strategy includes integrating licensed Globo products into the platform. For example: an online slot game with elements of the fantasy game Cartola FC is under development.
Almir Silva, CEO of BetMGM in Brazil, explains the approach: “It can be done tomorrow, for example, with a soap opera that is a hit”. According to him, the idea follows international models that use franchises such as Star Wars.
Although the companies do not detail shareholdings, MGM — which recorded revenue of US$4.18 billion in the third quarter of 2024 — is the majority owner. Furthermore, the partnership will facilitate user registration: existing accounts on Globo services can be used on BetMGM.
Regarding the potential of the business, Silva considers: “I think we will be at the level of the main [advertisers in the sector on Globo], but I wouldn’t say we are the main one”.
Competition with other bets that already operate in Brazil
The challenge will be to compete with operators that already operate in Brazil before market regulation in 2025. With robust campaigns and no sponsorship of football clubs, MGM seeks to gain space quickly.
In a recent statement, the company highlighted the partnership as part of its global expansion in online betting. Although it signals a reduction in international acquisitions, mergers are not ruled out in the country. “The group is large and M&A is a natural way to gain market share”, says Silva.
