MK Sports-Caesars Entertainment Brazil to receive sports betting and online gaming licenses

Big Brazil, owner of the famous Caesars Sportsbook brand in Brazil, is working towards a federal license to operate sports betting and online gaming in the country. The move places Big Brazil among a growing number of companies seeking federal licenses through the Ministry of Finance’s Gaming Management System (Sigap). The listing indicates that Big Brazil has met all the prerequisites for seeking authorization to operate in Brazil’s thriving sports betting and iGaming market.

As a member of the National Association of Gaming and Lotteries (ANJL), Big Brazil embodies the commitment of companies that already operate legally in Brazil. These companies are undergoing formalization, complying with the rules set by the Secretariat of Bonuses and Betting (SPA). Big Brazil is one of five operators that currently have applications listed on Sigap.

ANJL president Plínio Lemos Jorge noted that many gaming companies have initiated applications for federal licenses. However, these processes are still ongoing. To be listed on Sigap, gaming companies must submit a large number of documents and meet comprehensive requirements required by the regulator. Therefore, although many companies have initiated the process, they have not yet appeared in the system.

According to SPA/MF Regulation 827, which governs the authorization application process, the analysis of the application may take up to 180 days. However, companies that applied before August 20 this year can receive a response from the Ministry of Finance by the end of the year. The industry remains optimistic that many operators will complete their applications before this deadline.

Big Brazil’s Proof of Concept

In order to obtain a federal license, Big Brazil has conducted a proof of concept (PoC) to operate sports betting and online gaming in the state of Rio de Janeiro. The company is awaiting the results of the evaluation in order to continue the certification process with Loterj and represents the global casino industry giant headquartered in Las Vegas, USA.

André Feldman, CEO of Big Brazil, expressed his excitement about the approval of BiG Brazil/Caesars in the PoC of its platform. The company plans to launch the Caesars Sportsbook brand in the country, starting with Rio de Janeiro. With a population of more than 16 million, Rio de Janeiro has more potential than several European countries of similar population size.

The National Association of Gaming and Lotteries was established in March 2023 to advocate for its members, the industry, and responsible and honest gaming. It promotes sports, betting safety and contributes to the country’s economic development. Partners include galera.bet/Playtech, Big Brazil, F12, PagBet, Betnacional, Mr. Jack, Parimatch, BetFast, Aposta Ganha, Liderança Capitalização, Zro. Bank, Propane, Paag, Clear Sale, BetBox tv, StarsPay and WEpayments.-MK Sports