GMB - Brazil is moving towards legalizing casinos. How do you see this situation?
Alex Pariente - It’s always a pleasure to be in Brazil, participating in events that discuss the evolution of the industry. It’s very positive to see so many events taking place now, with many companies getting involved and establishing themselves. I believe we are in a transition period. The government is making efforts to organize all entertainment sectors related to gaming, which is a very healthy sign for us.
That’s why we continue to analyze all evolving regulations and laws, as well as government initiatives. We are trying to adapt and understand the safest way for the brand to establish an entertainment segment within gaming, whether in the digital or physical space.
The Hard Rock brand is firmly committed to this goal, as our chairman mentioned last year. At this moment, we are evaluating various partnerships with well-established companies in Brazil, looking for ways to integrate this process in a legal and government-aligned manner.
How does Hard Rock evaluate the possibility of opening physical casinos in Brazil? How many would there be?
We are closely monitoring this matter. We know there are political discussions and a pending vote that must take place before moving forward. If this vote has a positive outcome, we will continue working with the government and regulatory bodies to contribute to the legislation on physical casinos.
For us, this market is strategically important. Our intention is to respect the government’s timeline and wait for the next steps. If physical casinos are approved, our idea would be to establish an integrated resort in Brazil. As soon as the decision is made, we will express our interest more clearly.
For now, this is a statement of intent. We want to show at all industry events that the Hard Rock brand is committed and interested in this market.
It took a long time from legalization to the regulation of online gaming. Is there concern about this happening with physical casinos?
Yes, absolutely. This is a critical point for us. The land-based casino market is essential to our business model.
From what we learned during the online gaming regulation process, we know that lengthy delays can hinder market development. Based on discussions so far, it is estimated that the regulation of physical casinos would take about 12 months.
If that timeline is met, it will be a positive step forward. For comparison, online gaming regulation took more than two years, almost four years in total. That delay harmed industry opportunities. However, we learned from that experience and hope that physical casino regulation happens within the estimated timeframe.
Brazil is a huge country with a lot of talent in both the public and private sectors. I believe that, with the experience gained, we can streamline the process. If the 12-month timeline is respected, we are confident that there will be a Hard Rock casino in Brazil in the future.
When will we see Hard Rock Bet in Brazil?
Our intention was to establish Hard Rock Bet in Brazil a long time ago. Our goal has always been to launch the brand in the country. Above all, we want to be good partners, understand the specificities of Brazil, and operate in full compliance with all regulations.
We won’t enter the market carelessly—we want to be here when the right conditions are in place.
I believe we are on the right track. I hope we can finalize the alternatives we are exploring within a reasonable timeframe. The positive aspect is that, with Hard Rock’s management and our digital team, we will be able to materialize this project in the short term.
Source: Exclusive GMB
