Las Vegas casinos like MGM Grand and Caesars Palace are close to obtaining a license to operate in the online betting sector in Brazil. Additionally, Hard Rock Cafe is looking for opportunities to enter the national market.
These in-person gambling multinationals are placing their bets not only to profit from the online sector but also to test the dynamics of the Brazilian market. They are already eyeing the possibility of opening casinos in paradisiacal locations and are looking to build their brands in the country.
Executives from these companies say that Brazil has followed a reverse process compared to the rest of the world: it legalized online betting before having the in-person betting market organized under State regulations.
In parallel with the online betting legalization, Congress has resumed discussions on the bill regulating *jogo do bicho*, horse racing, and casinos.
Caesars Palace already has a license from Loterj to operate betting in Rio, is currently building its headquarters in Americana, in the countryside of São Paulo, and is hiring.
MGM Resorts has already invested R$54.25 million ($10 million) in the project it will launch with Grupo Globo, BetMGM. In a LinkedIn post, the group’s CEO, Bill Hornbuckle, wrote that the company aims to bring the “authentic Las Vegas betting experience to Brazil.”
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