This Tuesday (15), the Brazilian iGaming market was impacted by the news of Fernando Garita’s departure from Betsul. The executive served as CEO of the betting house for the last two years and announced his departure on his LinkedIn profile.
“Over the past two years, I’ve taken on this challenge with the conviction that the Brazilian market deserved a solid, responsible, and forward-thinking proposal. It’s with great satisfaction that I say we’ve fulfilled this commitment together. ”, wrote the professional.
Exclusively, Fernando Garita reflects on his time leading Betsul, the challenges of the transition to the regulated market in Brazil, and his future projects.
“My time at Betsul was temporary, as was always planned, but I fulfilled the mission entrusted to me. Now I’m moving forward with other projects, always connected to the industry, contributing from other perspectives,” he states.
Furthermore, he expects the federal government to do its part by creating suitable conditions to encourage formalization and effectively combat illegality in the sector.
“We hope the government also recognizes the effort and investment made by operators who decided to invest in a regulated market and comply with the rules,” he notes.
Regarding the future, Fernando Garita says he will serve as Managing Partner and founder of a group called Kabata Group, which will include the participation of investors and other strategic partners.
“The proposal is to offer the gaming community a variety of services, such as consulting, acquisitions, brand representation, and a strategic growth partnership model (Growth Partnership) specifically geared toward the operations of international companies looking to enter or expand in Latin America.”
In addition, the group will be actively seeking acquisition and direct operation opportunities in the region.
Check out the full interview with Fernando Garita:
iGaming Brazil: You just announced your departure from Betsul Brasil. How do you assess this two-year stint at the helm of the company?
Fernando Garita: As always, thank you very much for the space. In fact, today I formally announce the end of a cycle of more than two years leading this project. Arriving in Brazil, experiencing its culture, working with local talent, and living in this country was, without a doubt, an enriching experience both personally and professionally.
Brazil became my second home, after Costa Rica, my native country. Here I found a vibrant industry with great potential and a community committed to building a more formal and regulated market.
During this period, we faced significant challenges, especially related to the regulatory compliance process—a very challenging but also one of the most rewarding stages. We were able to significantly advance the group’s objectives, consolidate a solid operation, and establish a structure prepared to compete in this new environment.
My time at Betsul was temporary, as was always planned, but I fulfilled the mission entrusted to me. Now I’m moving forward with other projects, always connected to the industry, contributing from other perspectives. I’m very grateful for this opportunity and for everything I learned in the Brazilian market, which I will certainly continue to support.
iGaming Brazil: How do you assess these first few months of the regulated market in Brazil? What were the main challenges faced during the operational adaptation process?
Fernando Garita: This initial phase was truly challenging for all operators. Those who were present before, during, and after the transition experienced firsthand the complexity of adapting to the new reality.
One of the biggest challenges was having to re-register the entire player base, which directly impacted operations. Furthermore, we faced a completely different marketing landscape, with new restrictions that limited our exposure and the way we could reach our audience—something that’s definitely not trivial.
In our case, at Betsul, we made a great effort to prepare in advance. We knew what was coming, and while it wasn’t easy, teamwork and planning made all the difference. Even so, the process required enormous adaptability, both technologically and strategically.
Now, beyond tax issues, we hope the government also recognizes the effort and investment made by operators who decided to invest in a regulated market and comply with the rules. We, as operators, are doing our part.
We hope the State will also do its part, creating appropriate conditions that encourage formalization and effectively combat illegality. This is the path to building a healthy, fair, and sustainable industry for all.
iGaming Brazil: In your statement, you mention that you’ll continue to operate between Brazil and Costa Rica. Does this mean you’ll remain in the Brazilian iGaming market?
Fernando Garita: Correct. In the statement, I mentioned that I will be working between Brazil and Costa Rica, which reflects my continued commitment to the gaming industry in Latin America. While I will be based between the two countries, my initial focus will remain very much on Brazil and other parts of South America.
We have new projects underway with exciting brands and groups seeking growth in the regulated market. In this new phase, we will be offering strategic and operational services to support the development and professionalization of the sector.
So, yes, I remain fully active in the Brazilian market and in the region, with the same energy as always and a great desire to contribute to the growth of this industry that we are so passionate about.
iGaming Brazil: Could you share details about your next project?
Yes, I can briefly outline a few points. The project is called Kabata Group. It’s a group in which I’ll serve as Managing Partner and founder, and which will include the participation of investors and other strategic partners.
The proposal is to offer the gaming community a variety of services, such as consulting, acquisitions, brand representation, and a strategic growth partnership model (Growth Partnership) specifically geared towards the operations of international companies looking to enter or expand in Latin America.
Furthermore, the group will also be actively pursuing acquisition and direct operation opportunities in the region. We have other plans for the future, but for now, this is the initial vision I can share. We will make an official announcement with more details soon.
The idea is to combine all the experience I’ve accumulated over the years—along with that of my partners and investors—to offer the Latin American market a unique model.
Many foreign companies attempting to enter the region face cultural, regulatory, or operational barriers, and often lack the best experience. Kabata Group’s goal is to be this local ally—present in each country whenever possible—to support, guide, and maximize the return on these operations.
At the same time, we will also have our own operations, and we will soon announce the brands that will join the group. Thank you again for the opportunity, and I’m very excited about this new stage, which represents a significant transition: from leading a company as an executive to becoming a partner and manager of a more diverse operation, with a broader and more integrated vision across various verticals of the gaming industry.
