BetMGM Brazil's Chief Operating Officer and Chief Marketing Officer recently stated that the joint venture with Latin America's largest media group, Grupo Globo, provides the brand with the critical "explosive power" needed to enter Brazil, one of the world's most competitive emerging regulated markets. Although operations will only start after the market officially opens in January 2025, facing the pressure to catch up, executives believe that with the support of Grupo Globo's resources, the target of 10% market share set by parent company MGM Resorts International is achievable. Simply put, it means clinging to the media's coattails and raising our voice to the maximum in a noisy market. Want to know how international gambling giants seize the market through localized cooperation? PASA official website continues to track global key market dynamics.
First, Joint Venture Value: Media Giant's Endorsement, Latecomers Can Also Be First
BetMGM's joint venture with Grupo Globo is one of the first 14 operators fully authorized in the Brazilian market. Although entering the market later than some competitors who had earlier layouts, Chief Marketing Officer Ana Paula Castro Blanco believes that the cooperation with Grupo Globo has brought immediate credibility and scale effects, rapidly enhancing the brand's public recognition.
"Grupo Globo is the largest broadcasting company in Brazil, and partnering with them means entering a market that is already 'noisy' with a strong brand stance," she emphasized. This cooperation model is similar to the successful path of Sky Bet in the UK in the 2010s through media partnerships.
Second, Goal Analysis: 10% Ambition and Long-termism
Regarding the 10% market share target repeatedly emphasized by the parent company, Chief Operating Officer Daniel Xavier agrees and is confident. "Bill Hornbuckle has mentioned this target multiple times, and I am glad he trusts us. I believe it is achievable, of course, it takes time."
The key is that both joint venture parties—Grupo Globo and MGM—adopt a long-term perspective, willing to invest resources and continuously build foundations for the Brazilian market. Xavier added, "We are laying the groundwork here, ultimately to build up a house with a 10% share."
Third, Investment Strategy: Spend Rationally, Every Penny Must Be Accounted for Returns
MGM has mentioned high investments in the Brazilian market several times in financial reports, but Castro Blanco emphasizes that these investments are carefully calculated. "We have robust investments in various fields, but definitely not over-investing. Facing competition, we don't want to overspend, so every penny is spent very rationally."
She revealed that the company strictly calculates the investment return period for each investment, ensuring that market expenses bring quantifiable benefits. This "precise investment" strategy is exactly to maintain momentum in fierce competition without falling into a money-burning trap.
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This article is from "PASA-Global iGaming Leader," a gambling industry news channel:https://t.me/pasa_news
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