The search will be conducted by Genial Investimentos, Fundação Getúlio Vargas and the law firm Lefosse, hired by the state bank to help structure the project.
“It will be a 100% subsidiary of Banestes, but we need a partner with expertise in a business in which we have no experience. We want the contract signed by the end of 2024 and the company up and running in the second half of 2025,” said Amarildo Casagrande, president of Banestes.
The operation of lotteries was authorized by state law sanctioned in December 2023. According to the law, Banco do Estado do Espírito Santo will be able to offer both physical and virtual bets, with modalities to be defined by decree.
The potential of the lottery market in Espírito Santo exceeds R$500 million (US$ 92m). In Brazil, the betting sector is expected to generate revenues of R$130 billion (US$ 23.9bn) in 2024. In Espírito Santo, it is close to R$3 billion (US$ 550m), with an upward trend.
Source: GMB / A Gazeta
