MGM Resorts is seeking to offer igaming and sports betting in Brazil via BetMGM from early 2025 as part of a new joint venture formed with Grupo Global.

MGM hopes its igaming and sports betting licence application will be approved later this year.

The BetMGM-branded venture, which will use LeoVegas’ tech stack, will align MGM’s entertainment ecosystem with Latin American media group Grupo Globo’s reach of almost 70 million people through its multiple vehicles.

The subsequent product will offer “significant scale, resources and access,” MGM said, through exclusive rights to MGM’s brands and counting on the customer base of both companies.

The venture will establish its headquarters in São Paulo and elect “top talent” from each company to form its leadership cohort. Additional new hires will oversee its operations and growth.

MGM Resorts CEO and president Bill Hornbuckle said the venture is a “a landmark step forward and key milestone in our growth strategy.”

“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,” he said.

“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.”