Boa Lion, the Brazilian joint venture between MGM Resorts International and Grupo Globo, has agreed to acquire video bingo developer Bingão do Brasil, adding a bingo asset to BetMGM’s Brazilian operation. The deal covers 100% of the company and was disclosed in a notice published by Brazil’s Administrative Council for Economic Defence (CADE) in the Official Gazette on June 9. Financial terms were not disclosed.
The transaction has been submitted for competition review and remains subject to approval by CADE, the antitrust authority that assesses mergers and acquisitions affecting market concentration. Until clearance is granted, the deal cannot close.
Bingão do Brasil has not begun commercial operations. The company develops video bingo games and does not run a fixed-odds sports betting site, which makes this an early-stage acquisition of product capability rather than a customer base or revenue stream.
A bingo asset for a sub-10% market position
BetMGM launched in Brazil in 2025 through Boa Lion after the venture secured federal authorisation from the Secretariat of Prizes and Betting (SPA) within the Ministry of Finance. The operator runs sports betting, online casino and live casino products through a locally incorporated business, and its Brazilian site already lists bingo among its offerings. The platform supports Pix payments and carries titles promoted as MGM exclusives.
In its filing with CADE, BetMGM stated that it currently holds less than 10% of Brazil’s online betting market. That figure sets the context for the purchase, giving Boa Lion a specialised format to deepen its product range as it competes against an established field of local and international operators.
Brazil’s regulated online betting market opened on 1 January 2025. The Ministry of Finance permits only SPA-authorised operators to offer services nationally, and federally licensed sites must use the .bet.br domain. The regulated launch drew a large field of operators into the market, and tax policy has remained contested since.
Technology and Globo’s media reach
MGM Resorts International entered Brazil by pairing its gaming technology and casino brands with Grupo Globo’s media, sports and entertainment assets. The companies announced the Boa Lion joint venture in August 2024, before the regulated market opened, and said the operation would run on technology supplied by LeoVegas and be based in São Paulo. In January 2026, LeoVegas rolled out its proprietary Tiger sportsbook on the BetMGM Brazil platform.
MGM Resorts chief executive Bill Hornbuckle has said the company aims to reach a 10% share of the Brazilian market. At the time the venture was unveiled, he framed the Grupo Globo alliance in strategic terms.
a landmark step forward and key milestone in our growth strategy
Earlier accounts of the launch indicated BetMGM planned to introduce products tied to Globo intellectual property, including Cartola FC, the broadcaster’s fantasy football platform. The operator’s wider business has continued to report growth in its other markets.
Sellers and the road to approval
The sellers of Bingão do Brasil include L.Eva Participações, a holding company whose partners include Luciano Huck, one of Brazil’s best-known television presenters. Other investors in the developer include Pipa Ventures, FIP AJL II Multiestrategia and Antonio Gouvea Vieira Filho.
For Boa Lion, the purchase secures bingo development capability before any full commercial rollout, slotting a locally recognised format into a portfolio that already spans sports betting and casino. The next checkpoint is CADE, whose review will determine whether the transaction proceeds and on what timeline.
Source: Administrative Council for Economic Defence (CADE)
