Lanistar launches gaming sites in Brazil but faces licence approval delay

In Brazil, Lanistar has achieved a significant milestone by obtaining one of the first gaming licenses granted by the Brazilian SIGAP on December 13, 2024. This license is a crucial development in the context of the country's growing online sports betting market. The Brazilian government’s regulation of online gaming, initiated with the publication of the Normative Ordinance 827 on May 21, 2024, marked a new era in the industry, with the government outlining requirements for companies seeking to operate legally in the country. The ordinance provided a framework for compliance that included the submission of documentation, identification forms, and declarations of adherence to payment regulations. The rising demand for online betting services, evidenced by significant spending by Brazilians on international gaming platforms, has prompted the government to act towards formalizing the market. According to Itau Unibanco, Brazilians spent an estimated 68.2 billion reais ($12.2 billion) on these platforms in the year leading up to June 2024. In this evolving landscape, Lanistar decided to sell its assets and intellectual property to Nexus International for an undisclosed sum, thereby divesting its legacy business in the UK and channeling efforts fully into the Brazilian market. This transition is anticipated to enhance Lanistar's operational focus, allowing it to leverage the expected growth in Brazil's regulated gaming sector. With the new gaming license in hand, Lanistar's founder, Gurhan Kiziloz, expressed excitement about the venture, emphasizing the positive changes regulation could bring to consumers and operators alike. Overall, this development represents a significant opportunity for both Lanistar and the broader online gaming market in Brazil, which is positioned to become one of the world's top segments for sports betting.