The American group MGM, known for its restaurant, resort and casino businesses in Las Vegas, is negotiating the purchase of the Brazilian betting house KTO. The value of the transaction is estimated at around 175 million dollars. This could be the first major acquisition in the betting sector in Brazil.
In addition to MGM, another American group, DraftKings, traditional in the sports betting segment, is eyeing the Brazilian market. The company is considering entering Brazil through acquisitions or partnerships but is awaiting approval of sector regulations to move forward with its plans.
KTO is an online betting house with international operations, including Brazil. The company offers a variety of sports betting and casino gaming options. Focused on emerging markets, KTO seeks to expand its global presence, providing an accessible and diverse platform for betting enthusiasts.
This Monday (5), KTO applied for an operating license in Brazil. Following the rules of the Ministry of Treasury, the application was registered at the Prizes and Betting Secretariat (SPA) through the Betting Management System (Sigap) in the name of Apollo Operations Ltda.
“We have been preparing for more than two years to be one of the first brands to apply for a license in the country. We are happy and excited about this new phase of the Brazilian market, which promises to be one of the largest in the world”. said from KTO
Initially, the company began its activities in the South region, but currently serves players across the country.
