BetMGM Brazil’s Chief Marketing Officer, Daniel Xavier, remains optimistic about the company’s ambition to capture a 10% share of the Brazilian market, calling it an “achievable” target. BetMGM Brazil Market
According to Xavier and Ana Paula Castello Branco, the partnership with Grupo Globo has been instrumental in establishing the brand’s presence in Brazil. They highlight that this media alliance provided the crucial momentum needed to break into one of the most fiercely contested newly regulated markets worldwide.
In August 2024, MGM formed a joint venture with Grupo Globo to introduce the BetMGM brand to Brazil. MGM pointed out that Grupo Globo is the largest media conglomerate in Latin America, reflecting a strategic approach similar to the media partnership model that Sky Bet successfully employed in the UK during the 2010s.
This joint venture was among the first 14 operators to receive full licensing approval when the regulated market officially launched on January 1, 2025. BetMGM’s brand was introduced after regulation, entering a marketplace already filled with established competitors, which posed the challenge of catching up.
Nevertheless, Castello Branco and Xavier assert that collaborating with Globo immediately provided BetMGM Brazil with credibility and scale, accelerating its recognition among consumers. “The deal is actually very good,” Castello Branco tells iGB. “Globo is the biggest broadcaster in Brazil. The fact that we are together with Globo gave us punch in order to launch a big brand.
“We entered the market after regulation — a lot of players were there before [us]. So we saw a market with a lot of noise. The fact that we had Globo gave us strength in order to enter the market with a strong position from a brand perspective.” Aiming for a 10% Market Share MGM Resorts International, BetMGM’s parent company, has consistently reiterated its goal of reaching a 10% market share in Brazil. Xavier concurs that this target is within reach, especially considering the long-term strategy underpinning the joint venture.
“[MGM CEO] Bill Hornbuckle said that [10% target] a number of times,” Xavier states. “I’m very happy that he believes in us. I still believe it’s an achievable target. Of course, it takes time. “The good thing is that the group, Globo and MGM Resorts, believes in the long-term project. They have a long-term vision. That’s important. And we’re building our foundation here to reach the 10% market share.”
MGM Resorts has also emphasized its substantial investment in Brazil. While Castello Branco acknowledges that investments are significant, she assures that spending is carefully controlled.
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“I think there are huge investments in a lot of places,” she explains. “We have a robust investment in all the areas, but not an exaggerated investment.
“Because when we look at competition, we don’t want to overspend, so we are spending in a very, very rational way. So we measure payback and all that stuff. So the way that we’re investing is not that we just spend money. We spend money, but we are always looking at the payback that it gives us.”
