Governor Renato Casagrande celebrated the news on social media, highlighting that the revenue from the games will be allocated to crucial areas, such as health, sports and social assistance in the state. In his post on X, Casagrande stated: “an initiative that reinforces our commitment to generating revenue and investing in the well-being of the population”.
The operation of lotteries was authorized by state law sanctioned in December 2023. According to the law, Banco do Estado do Espírito Santo (Banestes) will be able to offer bets both in physical and virtual means, with modalities to be defined by decree.
Operations are expected to begin in the second half of 2025 and the bank is analyzing the possibility of offering sports betting in addition to traditional options.
Below is the Material Fact disclosed to the market:
“BANESTES S.A. (B3: BEES3 and BEES4), pursuant to CVM Resolution No. 44/2021, hereby informs its shareholders and the market in general that the Board of Directors approved, on this date, the establishment of a subsidiary for the purpose of operating the public lottery service of the State of Espírito Santo, in accordance with the legislative authorization granted by State Complementary Law No. 1,069 of December 19, 2023, by State Law No. 11,617 of May 19, 2022, and by the Central Bank of Brazil, through Official Letter No. 21249 of August 8, 2024. Banestes reiterates its commitment to keeping shareholders and the market in general adequately and timely informed about the future developments of this project."
Silvio Henrique Brunoro Grillo
Director of Investor Relations and Finance
Source: GMB
