BetMGM's presence in Brazil is growing. Boa Lion, the joint venture formed by MGM Resorts International and Brazilian media giant Grupo Globo to operate the BetMGM brand in Brazil, has agreed to acquire online video bingo developer Bingão do Brasil in a deal disclosed through Brazil's antitrust authority, CADE. The acquisition gives Boa Lion a dedicated bingo product as it builds out its digital gaming portfolio in one of the world's most consequential newly regulated gambling markets.
The transaction covers 100% of Bingão do Brasil, according to the notice published in Brazil's Official Gazette. Financial terms were not disclosed. The deal is subject to review and approval by CADE before it can close. Bingão do Brasil is a pre-commercial stage company — it has not yet launched its games commercially — focused on developing video bingo games for the regulated Brazilian online gambling market. Online bingo is explicitly authorized under Brazil's gambling framework established by Law 14.790/2023.
Why Bingo, and Why Now
For MGM and Globo, the Bingão do Brasil acquisition is about getting ahead of the curve in a product category that carries strong cultural appeal in parts of Latin America. Video bingo occupies a distinct market niche from sports betting and slot machines, attracting a player segment that often overlaps only partially with other online gaming verticals. Acquiring a development-stage product now gives Boa Lion the ability to control the bingo experience on its platform rather than depending on third-party content providers.
The seller's investor base added an element of Brazilian celebrity connection to the deal. Among the shareholders of Bingão do Brasil is Luciano Huck, one of Brazil's most recognizable television personalities, through his holding company L.Eva Participações. Huck's involvement via a media figure so closely associated with Brazil's mainstream entertainment world illustrates the degree to which the country's legal gambling market has attracted capital from across its business and celebrity communities.
"The acquisition of Bingão do Brasil is part of the long-term strategy of BetMGM to expand its digital entertainment ecosystem in Brazil, investing in categories with growth potential within a regulated market," the company said in a statement. BetMGM clarified that the transaction involves only online gaming and has no connection to ongoing Brazilian legislative discussions about physical casinos or physical bingo halls.
BetMGM's Global Expansion Strategy
The Brazil venture is one of BetMGM's most ambitious international efforts, built on a partnership structure specifically designed to leverage Grupo Globo's dominant media position in the country. Globo operates Brazil's most-watched broadcast network along with major streaming and digital platforms, giving BetMGM a marketing and distribution reach that purely imported brands cannot match. The partnership's goal is to capture 10% of Brazil's regulated sports betting and online gaming market.
Brazil's gambling market formalized rapidly after regulatory changes in 2023 and has attracted billions in investment from major international operators including Bet365, Flutter, and now BetMGM. The country's combination of massive population, strong sports betting culture, and a relatively fresh regulatory environment makes it one of the most attractive iGaming markets in the world for operators willing to navigate the compliance requirements.
For players in the U.S. market, BetMGM's domestic casino and sportsbook products are available in multiple states through the online casino platform available in licensed states. The company's global expansion in markets like Brazil and ongoing product development indicate continued investment across both its international and domestic gaming businesses. Players interested in live casino options currently available can explore the best live dealer casino apps operating in legally regulated U.S. states. The broader New Jersey Casino Apps ecosystem, where BetMGM Casino operates, gives a sense of the quality of product players can expect as BetMGM continues to build out its global platform.
The Bingão do Brasil acquisition is expected to close after CADE completes its competitive review, with no timeline publicly disclosed for when that process will conclude.
