VBET acquires Parimatch Brazil ahead of January launch of legal market
GROWE's sportsbook and casino product Parimatch Brazil will commence its activities in the country under the VBET name following its acquisition announced today.
As part of the deal, VBET is expected to begin the automatic transition of Parimatch Brazil's customers to its platform this month.
"This movement is already supported by obtaining an operating license from the [Brazilian] Ministry of Treasury, which marks significant progress for VBET in the Brazilian market", reports iGaming Brazil.
Originally founded in 2003 and currently operating in over 100 countries, VBET had previously established its presence in the Brazilian market, operating websites under the com.br subdomain.
The move is seen as the company's strategy to enter the Brazilian legal market, set to launch in January 2025. Initially, 114 companies sought the required licensing; however, only 71 have been granted approval, according to Regis Dudena, Secretary of Prizes and Betting (SPA) within the Ministry of Finance.
