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MGM targets Brazil with joint venture
With a new partnership formed with Grupo Globa, MGM Resorts wants to target Brazi in early 2025.
Founded in 1987, MGM Resorts is an American hospitality and entertainment company. Describing itself as a unique place with beautiful architecture, compelling design, and surprising elements, MGM Resorts is a place with whimsy and delight where its guests can experience fun.
Already operating different resorts in different locations such as Las Vegas, Massachusetts, Michigan, Mississippi, Maryland, Ohio, New Jersey, Macau, Shanghai, Chengdu, and Hangzhou Sanya, MGM now targets Brazil as its next location to offer iGaming and sports betting with a joint venture.
The venture will use LeoVegas’ tech stack and will align MGM’s entertainment ecosystem with Latin American media group Grupo Globo’s reach of almost 70 million people through its multiple vehicles.
To start the operation in Brazil, MGM Resorts is waiting for its iGaming and sports betting license application approval later this year.
MGM Resorts CEO and president Bill Hornbuckle said:
“Brazil is one of the most exciting and vibrant emerging gaming markets in the world, and no one has more exposure and expertise in this market than Grupo Globo. This historic alliance allows us to quickly enter the market with the scale and expertise needed to establish an early foothold as a leading operator and provider of the very best experience to customers across Brazil.”
The establishment will be headquartered in São Paulo and will have the best professionals on board to form the leadership. Additional new hires will also join the venture later.
With their debut in Brazil, MGM Resorts will mark a step forward and a key milestone in the resort’s growth strategy.
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