One of the largest media conglomerates in Brazil, TV Bandeirantes intends to enter the sports betting and online gambling market once and for all. A supporter of the gambling sector in the country for years, the company is in talks with several sportsbooks, but the obstacle lies in corporate participation.
Band wants to hold 80% of the capital of a possible “band.bet” and this has made it difficult to progress in negotiations with foreign betting houses that already operate in Brazil and which, with the regulations, should have a national partner.
According to Ordinance 827, which deals with requests for authorization to operate sports betting and online games, the requirement is that the company be established in Brazil and have a local partner with at least 20% of the share capital.
One of the companies that Grupo Bandeirantes has discussed with would be OpenBet. The possibility of forming a joint venture has been discussed since April. The company belongs to the North American group Endeavor, which is publicly traded on the New York Stock Exchange and had revenues of almost US$6 billion last year.
Another company that would be on the communications group's radar is SeguroBet, which has a program on the Band radio station. This also brought the conglomerate closer to the sportsbook.
Grupo Bandeirantes de Comunicação has consolidated itself, over the years, as an important media cluster in Brazil. The company has radio and TV stations with national coverage and Paulo Saad, president of the group, placed both TV Bandeirantes, BandNews and Rádio Bandeirantes, as a defender of the legalization of all games in Brazil.
Paulo Saad, president of Grupo Bandeirantes, during last BiS SiGMA Americas 2024 in São Paulo, pointed out that the Brazilian market is currently the third largest in the world, despite not being legalized.
“Non-regulation leaves the field open for bad entrepreneurs or adventurous entrepreneurs to the detriment of the great great entrepreneurs that we have,” he stated.
Globo
Grupo Globo, Brazil's largest communications conglomerate, is also eyeing the sports betting and online gambling market. The Brazilian communications giant expressed interest to the Ministry of Finance through the CNPJ of a subsidiary, DFS Entretenimento, which operates Cartola FC.
The conglomerate was in advanced negotiations with the American BetMGM, which had already been surveying the Brazilian market to apply for a license as soon as the market was fully regulated.
The moment has arrived and the two powers in their areas of activity are about to close the contract, which will have DFS Entretenimento, which operates Cartola FC, as the local partner of the powerful American bookmaker.
BetMGM is a bookmaker founded in 2018 and based in New Jersey, United States. It currently has partnerships with Tottenham, Manchester City, NewCastle, Wolverhampton and Manchester United.
Source: GMB
