Pragmatic Play has increased its presence in the Brazilian market recently, forming a partnership with Loto Giro. The casino game developer has been one of the largest slot providers over the past few years for European markets and is looking to extend its reach into Latin America.
The partnership with Loto Giro will give Brazilian players access to the provider’s slots, live casino, and virtual sports verticals in the near future, as announced in the press release. Loto Giro is the main lottery provider in Brazil, offering lottery and instant games to players across the country.
Why Does Pragmatic Play Want to Expand into Brazil?
Latin America presents a huge potential market for casino software providers and developers. The region has relatively strict controls against gambling, particularly for online play. However, these restrictions have been relaxed somewhat over the past few years.
Brazil is the most populated country in South America, with over 200 million people. While there are strict laws against gambling, including casino games, the country recently opened up its gambling industry to allow private lottery operators, ending the state’s monopoly on the lottery. In addition, fixed odds sports betting was made legal in 2018, allowing providers such as Pragmatic Play to offer virtual sports betting.
Pragmatic Play’s push to expand into Latin America has continued, with a range of products now live with a number of operators in Brazil, as well as with more developments in other South American countries. Other Latin American expansions announced this month include a partnership with Codere to reach the Colombian market with a full offering of slots, a deal with Dotworkers to offer Pragmatic Play’s three leading verticals in the region and an arrangement with BetDiamond to expand into Paraguay.
When giving details of the announcement, Victor Arias, VP of Latin American Operations at Pragmatic Play, revealed that increasing the company’s presence in the region is a major commercial focus. He went on to say:
“We’ve focused hard on bringing multiple verticals to operators in Latin America, and we’re delighted to take three of our product ranges live with Loto Giro across Brazil.”
Meanwhile, the CEO of Loto Giro, Edson Mendonça, gave this statement on the partnership:
“Adding premium content to our platform is something we’re keen to always do and partnering with Pragmatic Play allows us to add three leading verticals with one swift integration. We’re very excited to be able to offer such immersive content to our players and can’t wait to see this partnership achieve its full potential.”
Several other igaming operators have also recently made the headlines for their expansion into Latin American markets. We saw Betsson acquiring Inkabet, after which William Hill announced their Alfabet acquisition. The region has potential, with over 600 million people, and many operators hope to gain a share of this market.
Editor’s Note: Dear reader, you’re currently going through an archived news article from our Gambling News section that might be outdated. For the newest developments within the igaming industry, kindly visit our homepage.