Las Vegas casinos, such as MGM Grand and Caesars Palace, are close to obtaining licenses to operate online betting in Brazil. In addition, Hard Rock Cafe seeks opportunities in the national market.
In-person gaming multinationals want to profit from betting on smartphones and computers while experimenting with the Brazilian market. They also plan to open casinos in paradisiacal locations and build their brands in the country.
Managers of these companies claim that Brazil legalized online betting before organizing the in-person betting market under state rules.
In parallel, Congress is discussing bill No. 2,234 of 2022, which regulates bingo, horse racing betting and casinos. This project is the Senate version of PL nº 442, approved in the Chamber of Deputies in February 2022, after being processed since 1991.
Casinos licensed by Loterj
Caesars Palace already has a license from Loterj to operate betting in Rio de Janeiro and is building its headquarters in Americana, São Paulo. Thus, the company is hiring and already has 28 employees, with plans to reach 100.
The casino portal aims to differentiate itself with exclusive games and a high minimum deposit, around R$1,000, according to Paulo Morais, the company’s advisor in Brazil.
Big Brazil, Caesars Palace‘s representative in the country, has a share capital of R$36 million, of which R$30 million goes to the Treasury and R$5 million remains in a guarantee fund required by the government.
Executive statements
André Feldman, president of Caesars Sportsbook in Brazil, states: “For us, physical gambling, if it becomes regulated in Brazil, is a natural path that we will follow to request a license as well.”
MGM Resorts invested R$54.25 million in the BetMGM venture, in partnership with Grupo Globo. The group’s executive president, Bill Hornbuckle, wrote on LinkedIn that the company is considering bringing the “authentic Las Vegas betting experience to Brazil”.
Hard Rock Cafe vice president for Latin America, Alex Pariente said: “We are evaluating all possibilities in the market. It would be rewarding to also bring our brand to this sector when the opportunity arises.”
The company’s priority, however, is the in-person game. “The Brazilian market has always been very important for Hard Rock International, the country contributes significantly to the number of tourists visiting our properties in the USA and other parts of the world.”
The bill that should free up casinos, reported by senator Irajá (PSD-TO), should not be hindered by the discussion about online betting. Abreu believes that there are conditions to vote on the proposal in October, after the elections.
Casino resorts by states
The proposal provides for the authorization of up to three casino resorts per state, depending on population or territorial extension. However, companies will need to be accredited by the Ministry of Finance to operate their casinos for 30 years, with possible renewal for the same period.
Furthermore, the approval of the law could generate more than 650 thousand jobs and increase the country’s revenue by R$74 billion, according to Carlos Henrique Sobral, national secretary of Infrastructure, Credit and Investments at the Ministry of Tourism.
