Novibet has submitted an application for a federal online gaming licence in Brazil through its operating entity NVBT Gaming.
The petition – registered with the Prizes and Betting Secretariat (SPA) via the Betting Management System (Sigap) – has been described as a significant step in Novibet’s expansion into the rapidly growing Brazilian market.
Panagiotis Skyrlas, Chief International Expansion Officer of Novibet, stated: “We are super excited to be part of the first group of companies in Brazil to submit an application to obtain a licence.
“Novibet always advocated for regulation and responsible gaming. We have a long history of operating in highly regulated markets and launched in Brazil when we became aware of the plans to regulate the sector.
“Submitting our petition for a licence is an important step on our path to participating in the regulated market.”
The application was made within the initial 90-day window set by the Brazilian Ministry of
Finance’s SPA, ensuring that Novibet will be among the priority candidates for licensing, with the expectation to receive approval by the start of January 2025.
This move comes as Brazil’s online gaming sector gears up for a comprehensive market launch, following the publication of the latest regulatory ordinances.
Last week, the Senate of Brazil began hearings on Bill 2,234/22, which carries the federal mandate to modernise Brazil’s land-based gambling laws.
The Bill was presented by Senator Irajá Abreu (PSD-TO), as the Chief Sponsor, calling on Senators to back the project to modernise Brazil’s land-based gambling laws pertaining to casinos, bingos, horse racing and the sale of jogo do bicho (instant win games).