Boa Lion, the Brazilian venture formed by MGM Resorts International and Grupo Globo, has reached an agreement to purchase Bingão do Brasil, a developer specializing in online video bingo. This acquisition enhances BetMGM's portfolio in Brazil as it aims to expand within the country's regulated online gambling sector.
The acquisition involves the complete purchase of Bingão do Brasil, as reported in a notice by Brazil's Administrative Council for Economic Defence (CADE) published on June 9. The financial specifics of the transaction have not been disclosed.
This deal is currently undergoing a competition review and requires approval from CADE, Brazil's antitrust body, which oversees mergers and acquisitions that could influence market competition.
Bingão do Brasil has yet to commence commercial activities. The company is dedicated to creating video bingo games and does not currently operate a sports betting platform.
BetMGM made its debut in Brazil in 2025 through Boa Lion after securing federal authorization from the Secretariat of Prizes and Betting (SPA) under the Ministry of Finance.
The operator provides sports betting, online casino, and live casino offerings through a locally registered entity. The BetMGM Brasil website features a variety of services, including sports betting, casino games, live casino, and bingo. Additionally, the platform supports Pix payments and showcases games branded as MGM exclusives.
The regulated online betting market in Brazil officially launched on January 1, 2025. The Ministry of Finance stipulates that only operators authorized by the SPA can offer services nationwide, and all federally licensed betting websites must operate under the .bet.br domain.
This newly regulated market has drawn interest from international operators. In its submission to CADE, BetMGM indicated that it currently holds less than 10% of Brazil's online betting market.
MGM Resorts International entered Brazil through a collaboration with Grupo Globo, merging MGM's gaming technology and casino brands with Globo's media, sports, and entertainment resources.
The joint venture, Boa Lion, was announced in August 2024, prior to the market's regulation. At that time, the partners indicated that the operation would utilize technology from LeoVegas and would be headquartered in São Paulo.
According to MGM Resorts CEO Bill Hornbuckle, the company aims to capture a 10% share of the Brazilian market.
Previous reports regarding BetMGM's launch suggested that the operator intends to incorporate products related to Globo's intellectual property, such as Cartola FC, the broadcaster's fantasy football platform.
The sellers of Bingão do Brasil include L.Eva Participações, a holding company with partners like Luciano Huck, a prominent television personality in Brazil. Other investors in Bingão do Brasil consist of Pipa Ventures, FIP AJL II Multiestrategia, and Antonio Gouvea Vieira Filho.