As well as publishing its results for the year to 30 June – in which it recorded £2.40bn in revenue for H1 – gaming giant Entain took advantage of the conference call to give an overview of the company globally. And, of course, Brazil was one of the main protagonists.
Entain operates the Sportingbet and Betboo brands in LatAm, although Brazil proved tricky in H1 One of the most anticipated territories globally, the business in Brazil faced greater competition and achieved lower-than-expected net income.
However, Entain is optimistic thinking about the future. “There's lots going on Brazil. We are pleased to see that regulations have been passed in Brazil, which should allow licensed operators to commence early next year, subject to a pathway proposed by the regulators,” commented Entain’s CEO Jette Nygaard-Andersen.
The CEO also said they expect a license that gives customers a best-in-class deal, “more streamlined” marketing, and protections against an unregulated parallel market.
“The strength of our Sportingbet brand, product quality, player safety and improved customer acquisition channels make our operations in Brazil well positioned for growth,” she explained.
“In addition, our recent acquisition of 365Scores, the leading sports app in Latin America, further enhances our competitive position in Brazil," Jette Nygaard-Andersen concluded.
Source: GMB
