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Brazil’s Gaming License Applications Close with 114 Submissions as Deadline Passes
- Flexi Group
- Aug 21, 2024
- 5 min read
The countdown has officially ended, and the deadline for gaming license applications in Brazil closed as of midnight on August 20th. A total of 114 applications were successfully submitted, marking a significant milestone in the country’s regulated gaming market. The final list of companies that submitted their applications through the Sistema de Gestão de Apostas (SiGAP) by the deadline has been released, highlighting the growing interest in Brazil's gaming sector.
The most popular day for submissions was, unsurprisingly, August 20th, with applications continuing to pour in until the very last moment. Initially, 134 companies expressed interest in obtaining a license, but only 114 successfully submitted their applications. This reduction in numbers is attributed to the stringent legal requirements imposed by the Brazilian government, including a substantial BRL 30 million ($5.5 million) subsidy that many platforms were unable to meet.
The applications received by August 20th will be processed by the Treasury, and responses will be issued by the end of the year. Approved companies will be permitted to operate legally starting January 1, 2025, when all regulatory rules come into full effect. Companies applying after the August 20th deadline may still begin trading in January 2025, but they will do so without a federal license and will face penalties, as the approval process can take several months.
Notably, the final list of applications features Kaizen Gaming Brasil Ltda., the first company to submit its application on May 26th. The final surge in applications, including those submitted in the last hour before the deadline, underscores the intense interest and competition within Brazil’s regulated gaming market.
BBET Solucoes was the 101st company to apply for a license at 11:00 PM on August 20th. In the final hour leading up to the deadline, four more applications were submitted by G2 Negocios Digitais Ltda, Puskas Bet, Zetbet Ltda, Cash for Pay Ltda, and AF Technologia e Solucoes Financeiras Ltda. AF Technologia e Solucoes Financeiras Ltda. was notably the last applicant before the midnight deadline.
Here is the final list of companies that successfully submitted their applications before the deadline:
As the deadline has now passed, the gaming industry in Brazil eagerly awaits the responses from the Treasury. These will be issued by the end of the year, with approved companies set to begin legal operations on January 1, 2025. The coming months will be crucial in determining the future landscape of Brazil’s regulated gaming market.
By fLEXI tEAM
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