MGM Resorts International will form a new venture with Brazilian media conglomerate Grupo Globo to launch BetMGM in Brazil.

The deal will see BetMGM launch in the newly regulated market in early 2025 if the joint venture’s sports betting and iGaming licence is successfully approved later this year.

It follows Brazil’s Ministry of Finance earlier this month putting the finishing touches on the technical regulations which will apply in the licensed market.

MGM CEO Bill Hornbuckle said: “MGM Resorts is committed to becoming the world’s premier gaming entertainment company, and this strategic alliance with Grupo Globo, and entry into the Brazilian market, is a landmark step forward and key milestone in our growth strategy.”

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