After a dispute that initially forced it to cease operations, the brand Hanzbet has now announced a strategic partnership with BigBet to operate jointly in the Brazil betting market.
Earlier this month, it was announced Hanzbet would halt its activities in the licensed Brazil betting market after a clash with its licence holder in Brazil, EA Entretenimento e Esportes Ltda (EA).
But on Monday, Hanzbet announced the company had formalised an agreement to operate alongside BigBet, one of the three brands working under Big Brazil’s licence.
Big Brazil is also the licence holder of the Apostar brand, as well as Caesars Sportsbook.
The companies assert the move will strengthen the brands’ presence in the regulated market and boost the options available to bettors in Brazil.
“This merger represents more than a collaboration between the two companies – it’s a firm step toward strengthening the Brazilian regulated betting market,” Big Brazil/BigBet CEO Rodrigo Cariola said. “We remain committed to compliance, responsible gaming and delivering a high-quality experience for everyone.”
Hanzbet CEO Gabriel Martins added: “We know the credibility HanzBet has earned within the iGaming industry, partners, affiliates and service providers.
“We have always conducted our actions with clarity, seriousness and loyalty. We will continue, now stronger than ever, alongside a great brand like BigBet.”
It’s currently unclear what the merger will entail, although it could potentially mean Hanzbet’s customer base and operations are simply absorbed into BigBet.
The companies say they plan to announce further operational details soon.
What happened to Hanzbet?
Hanzbet claims the EA statement announcing the closure of the brand was published without its consent, with founder and CMO Eduardo Peres stating he and his team had been suddenly excluded from all internal communication channels and decision-making.
Peres published a statement on his LinkedIn, labelling the relationship with EA as a “true operational dictatorship” and alleging the licence holder was intentionally diverting Hanzbet users to another of EA’s brands, BateuBet.
Even more seriously, Peres accused EA of withdrawing liquidity from the company while simultaneously telling customers they had to extract funds from Hanzbet ahead of its closure on 31 July, making withdrawals impossible.
iGB reached out to both Hanzbet and EA regarding Peres’ accusations, but is yet to receive a response from either.
Despite the recent challenges, Peres welcomes the new chapter with BigBet, thanking Big Brazil for its belief in Hanzbet.
“After everything we have been through with the HanzBet case, today we turn around, with our heads held high and strengthened,” Peres said on LinkedIn. “They did everything to bury HanzBet. They forgot that the end only comes to those who give up and that was never our case.”
Hanzbet appears to have landed on its feet after a dramatic dispute with its previous licence holder.