Esportes Gaming Brazil chief business officer Hugo Baungartner has announced his departure from the company after 13 months in the post.
Baungartner arrived in May 2025, joining from Grupo Aposto Ganha after spending two years in various roles including chief commercial officer and vice-president of government affairs.
The industry veteran also spent 28 years with RCT Gaming from February 1997 to February 2023, across various positions such as COO and director of operations.
Baungartner has also served on the boards of software development company Prohards and financial services firm Vegas Card do Brasil.
He currently sits on the regulatory advisory board for Clarion Gaming.
Esportes Gaming Brazil is the parent company of Esportes da Sorte, LOTTU and Onabet, three operators that are licensed in the regulated Brazilian market.
Headed up by CEO Darwin Filho, the boss told EGR last year that the three brands have snared between 11% and 13% market share in Brazil.
The company has around 600 staff, a headquarters in Recife and another office São Paulo. It is one of the leading local brands in a market that has seen international giants move in.
Brazil regulated on 1 January 2025, with the previous grey market having been in place since 2018. The likes of Flutter, Entain, Stake and Superbet are all live in the South American nation.
However, the illegal market continues to prove a challenge, with some studies suggesting as much as 51% of bets are placed with unlicensed firms.
Announcing his departure on LinkedIn, Baungartner wrote: “After 13 incredible months, my time at Esportes Gaming Brasil draws to a close.
“It has been a place where I felt truly welcome and at home, and I’m proud of everything we achieved together.
“A big thank you to [vice-president] Marcela Campos and Darwin Filho for creating a culture of generosity, ambition and hard work that made EGB feel special from day one. I leave confident that I accomplished the objectives I set out to achieve.
“I’m grateful to have been part of the team behind Brazil’s largest operator and excited for what comes next.
“EGB and its talented team are in a fantastic position within one of the most dynamic and promising markets in the world.”
A replacement chief business officer has not yet been announced.
Last week, Brazil president Luiz Inácio Lula da Silva signed a decree that would see money seized from illegal operators diverted to the country’s National Public Security Fund.
Arnold Ash is EGR’s executive recruitment partner. It supports ambitious organisations to identify and attract industry leading executive talent. Find out more here.
The post Esportes Gaming Brazil chief business officer leaves after 13 months first appeared on EGR Intel.
Hugo Baungartner leaves Esportes da Sorte and Onabet parent company with no announcement of his next role
The post Esportes Gaming Brazil chief business officer leaves after 13 months first appeared on EGR Intel.