Only the 113 license applications submitted by companies to operate sports betting and iGaming by August 20 and approved by the Secretariat of Prizes and Betting (SPA) will have their authorization issued by December 31.
Despite this, the application period will remain open, allowing companies to apply for authorization at any time.
Caio de Souza Loureiro, partner in the Gaming & E-Sports area at TozziniFreire Advogados, explains that this is the condition for companies to be able to operate as of January 1, 2025, when the ban on operating without authorization comes into effect.
“This fact justifies the large demand from companies, but the expectation is that this number does not reflect the total of companies that actually obtain authorization. Since the requirements are very strict, including from a financial point of view, it is likely that some companies will not be able to obtain authorization,” says Loureiro.
The lawyer warns that there are expectations that some companies have requested the request only to increase the potential for selling the asset or entering into partnerships.
According to him, from now on the Ministry of Finance, through the Secretariat of Prizes and Betting, will analyze all the documentation and may request clarifications and additional documents.
“Those that pass this initial screening will be called to pay the grant and prove the financial requirements. And only after this stage has been completed, will the authorizations be issued,” concludes Loureiro.
Source: GMB
