Big Brazil, the company that owns the Caesars Sportsbook brand in Brazil, was the fifth company to apply for the federal license. This week, the group also received accreditation in the State of Rio de Janeiro via LOTERJ.
André Feldman, CEO of Big Brazil, explained that he has represented Caesars since 2012 and has been operating in Brazil since 2015, starting with a WSOP (World Series of Poker) poker event. “We held the biggest open event at Copacabana Palace”, he recalled.
“It (Caesars) does not operate on the gray market, it is a company listed on the Nasdaq stock exchange. The operation only began after regulation in Brazil. Today the license came out in Rio, and this is the first interview we have given after this news”, he celebrated.
According to Feldman, “the bar was raised by the government with very restrictive legislation. The biggest proof of this is that today there are 3,500 websites operating in Brazil and just over 100 companies have requested licenses.”
Of these interested parties, he estimates that 20% have never operated in Brazil. “You have Caesars coming in, MGM, Hard Rock and other companies that also only adhere to regulated markets. Everything will be different after the regulation”, he stated.
Caesars and physical casinos
It is worth noting that Caesars is a brand well known for its casinos and physical games in Las Vegas. “We expected the physical casino to come before the online one. In other countries, the physical came first because it brings tourism, jobs, shows and other activities”, he highlighted.
“In a country that needs jobs and tourism, it would make more sense. But the opposite happened, and now online gambling will have the role of proving that gambling can be responsible and a good source of tax revenue for the government”, he added.
For André Feldman, land-based casinos should not become a reality in the national territory before two or three years. “This is a personal projection.”
“Even after passing through the Senate and presidential sanction, we will have to regulate physical gambling. Therefore, it will not be quick”, he concluded.
