Flutter aims for leadership in Brazil, while DraftKings has no plans for the region

Flutter aims for leadership in Brazil, Betfair files for license

On August 13, Flutter CEO Peter Jackson said that the company is aiming to become the leader in the licensed betting market in Brazil. During a discussion about possible mergers and acquisitions, Jackson noted that final plans for the region have not yet been determined. According to him, the company is counting on the success of its Betfair brand, which applied for a license on the day of the financial report.

The second quarter results showed an 11% increase compared to the same period last year. In a survey conducted by ENV Media in July, Betfair was named the most recognized betting brand in Brazil.

Despite growing interest in the Latin American market, particularly Brazil, DraftKings has no immediate plans to expand into the region. CEO Jason Robins emphasized that the company currently has no plans to grow organically or through M&A in the region.

This is a change in strategy, as DraftKings was previously among 130 operators that expressed interest in the Brazilian market once the gambling regulation is finalized in December 2022.

Brazil has been an important part of Entain’s international growth strategy, helping the company grow net revenue by 6% in the first half of 2024. The company’s report noted that net gaming revenue in Brazil increased 48% year-over-year in the second quarter. Entain expects continued growth in the next half of the year.

New deposits in Brazil exceeded 2022 and 2023 levels, driven by better marketing and an improved user experience on the Sportingbet platform. In July, Entain also applied for a license to operate in Brazil.

Rush Street Interactive reported strong revenue growth in Latin America, up 72.4% year-on-year. In July, the company launched its RushBet brand in Peru as part of its expansion strategy in the region.

Despite its success in other Latin American countries, CEO Richard Schwartz noted that Rush Street Interactive will not rush into the Brazilian market, although plans to launch in the country remain.

Betsson continues to strengthen its position in Latin America, having secured licenses for the Betsafe and Betsson brands, as well as its subsidiary Inkabet. The company’s revenue from the region in Q2 2024 reached a record €62.6 million, accounting for 23% of Betsson’s total revenue.

CEO Pontus Lindvall noted that Betsson has big ambitions in Latin America, including Brazil, where the company is preparing to launch in early 2025.

MGM prepares to enter Latin America with BetMGM brand

MGM Resorts International has announced plans to enter the Latin American market with the BetMGM brand. The company’s president, Gary Fritz, said that the launch in the region is planned for the near future.

Kambi Group announced that it has revised its 2027 targets due to regulatory delays in several countries, including Brazil. Despite this, the company continues to make deals in Latin America, expanding its presence in the region.

OpenBet, which is currently in the process of finding a new owner, is focused on the opportunities that Brazil's newly regulated market will bring. CEO Jordan Levin noted that the market will be one of the largest in the world, and OpenBet is looking to take a significant share of it.