"We are facing a great moment for Brazil and the imminence of the total regulation of the segment, which according to recent statements will happen in the first quarter of this year. It will be a milestone for the sector," says Gelfi.
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Recently, Swedish giant Betsson - one of the five largest online gambling companies in the world - has just bought 75% of Brazilian Suaposta, in the first sports betting sector M&A in Brazil and on the eve of regulating the activity.
“Regulation will take our business to a new level,” André Gelfi, Suaposta's CEO, told the Brazil Journal. “With Betsson's know-how, technology and financial strength we can become one of the dominant players in this market.”
Suaposta was born in 2016 within Codere, a sports betting multinational that is worth 350 million euros on the Spanish Stock Exchange. At the time, Gelfi was the head of the company in Brazil and led the project that gave life to the platform. In September last year, he teamed with Fernando Corrêa Filho, then CFO of Codere Brasil, and the two acquired Suaposta in a management buyout.
Source: GMB
