Brazil sees late applicant flurry after 1 October exit deadline confirmation

  • UM News
  • Posted 1 year ago
00:00 / 00:00

Eight bodies have submitted licence applications in Brazil after the Ministry of Finance set a 1 October exit date for unlicensed firms.

On 17 September, the Brazilian government confirmed operators that have not yet applied for a licence will be shut down at the start of October.

The clampdown will be coordinated with the Central Bank of Brazil, the National Telecommunications Agency and the Ministry of Justice and Public Security.

However, operators that have applied for a licence, namely the 113 firms that did so before the initial 20 August deadline, will be allowed to continue to operate.

The regulated Brazilian sports betting and online casino market is due to go live on 1 January 2025.

Following the Ministry of Finance’s statement, a late flurry of applications have come forward from local firms.

Given these applicants missed the initial window, it is unclear if the Ministry of Finance will process and approve the licence applications before 1 January.

The seven companies to have applied for a licence from 17 September onwards are: BRX Gaming, Amplexus Corporation, Nexus International, JDB, Boa Sorte Premios, Wudi Pay and Aposta 7.

An individual known as Gustavo Henrique Vieira Angelotti has also submitted a licence application.

With those submissions now officially with the Ministry of Finance, the groups will be able to continue to operate after 1 October.

Three other companies did submit applications after the 20 August deadline.

Those were GSEMP Trade and Services on 26 August, WK Business and Finance on 30 August and Gisenyi Associates on 11 September.

Should applicants be successful, Brazilian licences will cost BRL30m (£4.2m) and last for five years.

Licence holders will be able to launch three skins in the regulated market.

Flutter has already made a big move in Brazil ahead of the market launching after it snapped up 56% in Betnacional parent company NSX Group.

The post Brazil sees late applicant flurry after 1 October exit deadline confirmation first appeared on EGR Intel.

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