MGM Resorts International CEO Bill Hornbuckle has said the Las Vegas giant will continue to invest in Brazil via the BetMGM JV following a positive start in the market.
Speaking on the operator’s Q4 2025 analyst call yesterday, 5 February, Hornbuckle said the positive momentum in the Latam market meant there remained a viable investment case.
MGM Resorts International went live in regulated Brazil via a JV with media giant Grupo Globo.
LeoVegas Group’s in-house sportsbook, Tiger, went live with BetMGM Brazil in December.
LeoVegas Group, which is owned by MGM Resorts International, supports BetMGM Brazil on a B2B basis.
As per the Q4 earnings deck, MGM Resorts International is continuing to target upwards of 10% market share in Brazil.
Hornbuckle said: “We exited 2025 making significant headway in Brazil, particularly after the launch of our in-house sportsbook.
“The Brazilian market is new, robust and evolving, and we are confident our JV with Globo and the Globo marketing assets have created funding opportunities that are worthy of sustained investment in the coming years.”
On the rest of the MGM Digital arm, which comprises the legacy LeoVegas Group brands and the Europe-facing BetMGM, Hornbuckle said there was “encouraging momentum”.
The deck noted that Sweden, Italy, Spain, Denmark, the Netherlands and the UK remain the key markets for the division, with a target of 5+% market share across the continent.
Hornbuckle added: “MGM Digital also continues to see encouraging momentum. We are excited by the scaling of the BetMGM brands in key international markets, where Sweden continues to be our top market.”
Financially, MGM Digital reported Q4 2025 revenue of $188.2m (£138.6m), representing a 34.5% year-on-year (YoY) increase versus $139.9m.
Adjusted EBITDAR losses for the division shrank YoY, falling from $21.7m to $7m.
On a full-year basis, revenue rose 19% from $552m to $654m, while adjusted EBITDAR losses widened from $77m to $90m.
In an exclusive interview with EGRpublished earlier this week, BetMGM Brazil COO Daniel Xavier discussed the operator’s first year in the regulated market.
The post MGM Resorts International pledges further investment in BetMGM Brazil first appeared on EGR Intel.
CEO Bill Hornbuckle says positive progress with JV means it is “worthy of sustained investment”, as group targets 10+% market share
The post MGM Resorts International pledges further investment in BetMGM Brazil first appeared on EGR Intel.