{"id":158470,"date":"2024-08-16T09:19:37","date_gmt":"2024-08-16T12:19:37","guid":{"rendered":"https:\/\/igamingbrazil.com\/uncategorized\/2024\/08\/16\/globo-and-mgm-resorts-form-a-partnership-and-plan-to-launch-betmgm-in-2025\/"},"modified":"2024-08-16T09:22:41","modified_gmt":"2024-08-16T12:22:41","slug":"globo-and-mgm-resorts-form-a-partnership-and-plan-to-launch-betmgm-in-2025","status":"publish","type":"post","link":"https:\/\/igamingbrazil.com\/en\/sports-betting-en\/2024\/08\/16\/globo-and-mgm-resorts-form-a-partnership-and-plan-to-launch-betmgm-in-2025\/","title":{"rendered":"Globo and MGM Resorts form a partnership and plan to launch BetMGM in 2025"},"content":{"rendered":"\n

MGM Resorts International<\/a> and Grupo Globo have formed a strategic partnership<\/strong> to transform the Brazilian sports betting<\/a> and online gaming market.<\/p>\n\n\n\n

If the license is approved by the end of the year, the companies intend to launch the BetMGM<\/a><\/strong> platform in early 2025. The operation, which will be based in S\u00e3o Paulo, aims to take advantage of the rapid growth of the sector in Brazil.<\/p>\n\n\n\n

Golden opportunity for Brazil<\/h2>\n\n\n\n

The online betting market in Brazil is growing rapidly, driven by new legislation. The law requires international operators to have Brazilian partners with a 20% share.<\/p>\n\n\n\n

Thus, the partnership between MGM and Globo<\/a><\/strong> meets this requirement, strategically positioning the companies to explore the market, which already has more than 20 million active bettors.<\/p>\n\n\n\n

The expectation is that the betting market in Brazil will generate US$3 billion in revenue<\/strong> this year alone, with a double-digit expansion rate in the coming years.<\/p>\n\n\n\n

“This is without a doubt the largest source of regulated growth available globally outside of the U.S. over the next five years,” said Gary Fritz, leader of MGM’s interactive business<\/strong>, in an interview with Bloomberg News.<\/p>\n\n\n\n

MGM and Globo could become a global giant<\/h2>\n\n\n\n

MGM, known for being the largest casino<\/a> operator on the Las Vegas Strip, already runs BetMGM’s U.S. online business in partnership with Entain. But now, the company is looking to expand its global presence with a focus on Brazil.<\/p>\n\n\n\n

On the other hand, Globo:<\/p>\n\n\n\n