Governance and Legal Certainty: Keys at GAT Official Launch Brazil

Last Thursday, July 30, the first edition of GAT Brasil culminated with an excellent balance. The event brought together professionals from across the gaming and betting ecosystem to delve into the present and future of the industry.

During the day, the debates agreed that governance in the sector, compliance, legal certainty, responsible gaming policies and actions, and institutional strengthening are key factors to guarantee sustainable growth of the sector.

At the beginning of the event, the master of ceremonies called the GAT Brasil Ambassadors to the stage to present to the audience the distinguished group of industry leaders who accepted the invitation to accompany the birth of GAT Events in São Paulo, thus contributing to the knowledge and strengthening of a constructive dialogue between the public and private sectors.

In the installation of the conferences in the Luiz Nazareno room of the Jockey Club, José Aníbal Aguirre, Founder and CEO of GAT Events, highlighted the strategic importance of Brazil as the largest market in Latin America and announced the realization of the 1st Latin American Congress on Responsible Gaming, scheduled for October 20 and 21, 2027, again in São Paulo.

Liliana Costa, Latin America Director for World Gaming Business, highlighted Brazil's role as one of the markets with the greatest projection for the industry and reaffirmed the commitment to boost its international visibility, stating in this regard: “For World Gaming Business it is an honor to act as a Media Partner at the official launch of GAT in Brazil at such a decisive moment, our organization's commitment includes a prominent presence at ICE Barcelona, amplifying the debates that contribute to building an increasingly regulated, responsible, and sustainable Brazilian and Latin American market."

Opening presentation

The introduction was made by Alex Pariente, Chair of GAT Official Launch Brasil 2026 and Founder & Principal of Pariente Advisory. This presentation set the tone for the entire agenda shared by 200 C-level executives from the region.

“Brazil built its market in 2025 and, at the end of the first year, reached R$ 37 billion in GGR. It is an extraordinary volume, but we still have an incomplete channelization. There is a volume of similar magnitude, also estimated at close to R$ 37 billion, that still circulates through the illegal gambling chain, which compromises the credibility of the sector,” Pariente stated.

In Pariente's opinion, the Secretariat of Prizes and Betting (SPA) has done an exceptional job to effectively consolidate a sustainable market. According to the executive, all the measures adopted within the framework of the regulation have been satisfactory for formal operators; however, the channelization process still needs to be completed. “Channelization remains incomplete, with mirror domains exceeding takedown actions and a SPA that still has a limited team. The regulator needs to be strengthened for the sake of the market,” evaluated Alex W. Pariente.

From regulation to enforcement, closing the channelization gap

In this first discussion, Neil Montgomery, Founder of Montgomery and GAT Ambassador, posed to panelists André Santa Ritta, Caio de Souza Loureiro, and Eduardo Ludmer the precise question: How to make illegal market operators migrate to the legal market? And he added: “We know it is a difficult fight, ideally the entire market should be regulated. If Brazil manages to reach a channelization level of 90%, it will make an extraordinary leap in regulatory matters.”

Caio de Souza Loureiro, Partner at TozziniFreire Advogados expressed that we are living a key moment for a reorganization of the sector. He conceptualizes that a coordinated action among all State agencies is essential and refers to the fact that the Secretariat of Prizes and Betting does not have an adequate structure to face this challenge. “This issue is transcendent as it interests both society and the industry,” he concluded.

André Santa Ritta, Partner at Pinheiro Neto Advogados, contributed: “I think the numerous warnings issued by the SPA are a positive sign. The call to licensed operators to clarify aspects contributes to sustainability, however, all this effort will only have a real result if it translates into a reduction of the illegal market.”

Eduardo Ludmer, Legal and Compliance Director at BetMGM, pointed out that the restrictions established for the regulated market have allowed the consolidation of clear standards for the benefit of the formal market. He highlighted the preponderant role of responsible advertising as a complement to regulatory measures. “It is not simply about limiting the sector's advertising since, visibility allows the consumer to identify who are legal operators and who are not.”

The World Cup test, integrity, advertising and responsible gaming

Ambassador Bárbara Teles, Legal Director of Playtech, welcomed Ricardo Magri, CEO of EBAC and GAT Ambassador, and Leonardo Baptista, CEO of Pay4Fun, to discuss this highly topical issue.

The panel showed that the World Cup represented, more than an operational challenge, an opportunity to strengthen the visibility of the regulated market. The experts agreed that the tournament did not generate a significant increase in the volume of bets or in the acquisition of new users, and that the technological infrastructure responded normally to the demand.

The speakers noted that Brazil has advanced considerably in the regulation of the sector, although major challenges remain in terms of communication and Responsible Gaming. They highlighted the need to develop educational campaigns that go beyond the messages included in operators' advertising to promote a culture of responsible gaming among the population. Likewise, it was warned that the changes in advertising formats during the World Cup partially affected the perception of the sector.

Finally, the strategic role of payment processing companies in fighting the illegal market was emphasized, insisting on preventing financial providers from operating simultaneously with legal and illegal platforms and strengthening regulatory control. Leonardo Baptista noted in this regard: “At Pay4Fun we are really acting in that sense, although the same does not happen with all payment methods. We know that there are companies that work simultaneously with legal and illegal operators, and it is up to the regulator to adopt measures regarding this situation."

Advances in B2B licensing in Brazil

Hugo Leite, Business Executive at Gaming Laboratories International (GLI), led the panel with the participation of Beatriz Melges, Latin America Director at SoftConstruct; Thiago Garrides, CEO of Cactus Gaming; and Ana Bárbara Costa, Director of Government Relations at ABRAJOGO.

Hugo Leite of GLI, a leading certification laboratory, stressed the relevance of supplier licensing, strategic for strengthening the regulated ecosystem. “The Government's decision to require certification of the entire chain creates the necessary conditions to increase the regulatory sustainability of the industry.”

Ana Bárbara Costa emphasized the need to certify payment method providers. “Payment companies can become an effective barrier against illegal gambling.”

Thiago Garrides of Cactus Gaming agreed that comprehensive licensing of all players will achieve a more reliable and transparent market. “The narrative and discourses against this industry will decrease to the extent that the illegal market is truly dismantled. The matter is not only the responsibility of payment companies but also of platform providers, we are part of this chain and we have the commitment to work only with licensed operators.”

Beatriz Melges of SoftConstruct states: “We cannot allow the illegal market to continue prospering. In our case, all SoftConstruct content, including game aggregators, payments, and KYC verification tools, goes through rigorous validation processes.”

Integrated resorts and tourism potential, Bill 2234 next steps

The fourth discussion of the day, led by Alex W. Pariente, Ambassador and Chair of GAT Brasil, presented a vision on integrated resorts and the next steps for Bill (PL) 2234, currently underway in the Federal Senate, highlighting that the experience of regulating online gambling has prepared Brazil to advance towards a modern framework for land-based casinos. Pariente stressed that this regulatory development can contribute and significantly transform Brazilian tourism.

Plínio Lemos Jorge, president of the ANJL and GAT Ambassador, described the legalization as "a historic opportunity", pointing out that it will increase public revenue and expand the entertainment offer. He added: “The development of the land-based market must also be governed by the principles of responsible gaming, as online gaming is implementing it, that is, the identical message must be transmitted to society”.

For his part, Waldir Marques, Executive Director of TQJ and former member of the Federal Government during the regulatory process, stated that the experience acquired with the online market will allow the development of "much more solid regulation for land-based casinos", although he stressed that investors will require full legal certainty. He also highlighted that projects for physical venues, especially in integrated resorts, involve much higher investments than online gaming.

Daniel Fernandes, from Brasil Fernandes Advogados, warned that the approval of PL 2234 and the debates in the Supreme Federal Court will mark the future of the sector, insisting that "legal certainty will be the decisive factor in attracting major investments". He added: “The industry must closely follow the ongoing processes and contribute to the institutional debate with technical information”.

In economic terms, Bruno Omori, president of the IDT-CEMA and GAT Ambassador, estimates that legalization could generate an economic impact of up to R$70 billion, boosting tourism, hotels, construction, the real estate market, equipment, and the entire linked service chain. Omori noted that there is a good sign with the installation of VLTs in hotels, as this demonstrates the hotel sector's interest in expanding its entertainment offer.

In conclusion, the panelists ratified that the development of land-based casinos must be based on legal certainty, Responsible Gaming, and player protection standards equivalent to those already implemented in the online market.

The future of land-based casinos in Brazil: opportunities, challenges, and omnichannel integration

Under the leadership of Alex W. Pariente, Chair and GAT Brasil Ambassador, the panel analyzed the integration between online gaming and land-based casinos, emphasizing that an omnichannel ecosystem will be indispensable in the arrival and development of the regulated market in Brazil. Participants included Neil Montgomery, Max Bauer, Latin America Director for Novomatic, Daniel Fernandes, and Luiz Felipe Maia (Maia Yoshiyasu Advogados).

At the beginning, Pariente warned the audience to keep in mind that on August 5, the Supreme Federal Court (STF) could analyze Extraordinary Appeal 966177, the result of which would have an impact on the prohibition of games of chance established in Article 50 of the Criminal Contravention Law of 1941.

During the debate, Neil Montgomery and Luiz Felipe Maia considered it unlikely that the Supreme Federal Court would address the issue immediately, while Daniel Fernandes expressed his expectation that the regulation of land-based casinos will advance more quickly than that of online gaming, noting that "with clear rules and responsible regulation, people will be able to freely exercise their decisions".

In terms of investments, Max Bauer, Director for Latin America at Novomatic, stated that "if Brazil offers balanced legislation, legal certainty, and adequate conditions to recover investments, it will undoubtedly attract the world's main players".

For his part, Alex W. Pariente stressed that the success of the land-based market will depend on replicating the regulatory standards of iGaming, incorporating KYC, anti-money laundering (AML) prevention, Responsible Gaming, and legal certainty.

Finally, Neil Montgomery proposed the creation of a specialized regulatory agency to comprehensively supervise the online market and future land-based casinos. “I believe that the arrival of land-based gaming is practically inevitable and therefore, Brazil must prepare institutionally to manage this new scenario.”

Prediction markets and betting: a new frontier for expansion in Latin America

Lawyer Sávio Prado, partner at Prado, Castelli, Vasconcelos Advogados and GAT Ambassador, moderated the discussion accompanied by Fabrício Tota, Director of Mercado Bitcoin and columnist for Estadão; Fernando Garita, co-founder of Kabata Group; Ari Célia, Advisor at Pay4Fun; and Guilherme Guimarães, partner at Lance!.

During the opening, Sávio Prado explained that Brazil chose to regulate prediction markets by clearly differentiating them from betting. "In Brazil they were regulated by the National Monetary Council, but they were prohibited from being offered by betting operators."

Fabrício Tota highlighted the speed with which Brazil addressed this regulation through CMN Resolution No. 5,298, limiting these products exclusively to financial predictions, prohibiting their use for sporting, political, social, cultural, or entertainment events.

Fernando Garita recalled that in the United States this market has experienced sustained growth for several years. “In Brazil, products of this type already exist, although restricted to certain binary decisions. Some international platforms continue to offer them and it is important not to confuse this market with sports betting. Although they are similar activities, prediction markets have their own characteristics."

Guilherme Guimarães pointed out that prediction markets pose complex challenges and warned that international prediction platforms regarding Brazilian elections raise questions that require "a much broader discussion".

For his part, Ari Célia stated that it is impossible to ignore the force that these new business models can achieve. "Something similar happened with Bitcoin. At first, few believed in its potential and today it is a consolidated market. Prediction markets could follow a similar path. Probably one of the factors that led the Government to restrict them was the coincidence with this year's electoral process."

The federative question: lotteries, states, and prospects for next year

The last panel of the afternoon covered the topic of the state lottery market which, under the leadership of Amilton Noble, CEO of Hebara, brought together authorities, officials, and businessmen, as follows: Fabíola Esteves, President of LOTERJ; Alessandro Montenegro Dantas, CEO of ALDEOTA; Roberto Quattrini, Managing Director of Novomatic Brasil; and Iuri R. Castro, former Undersecretary of Lotteries and Betting.

To begin, GAT Ambassador Amilton Noble highlighted the leadership achieved by LOTERJ and asked Fabiola Esteves what the entity's next steps would be after many regulatory advances.

The president of LOTERJ explained that the entity has sought to offer precisely what has been lacking in the sector for many years: legal certainty. The official clarified that the bidding processes provide stability to the authorized operations in Rio de Janeiro. She also pointed out that the entity maintains a firm commitment to Responsible Gaming, without losing sight of its social function. "Our mission consists of generating resources for social programs, but at the same time promoting a responsible and safe operation for the entire population."

During this conversation, Iuri R. Castro assured that there are various factors capable of accelerating the growth of the lottery market in Brazil. "We observe international examples where lotteries generate collection levels vastly superior to current ones in Brazil. Digitalization is one of the main paths to achieving that potential. State lotteries can play a decisive role by expanding the offer of digital products and large accumulated draws (jackpots).

"The former undersecretary added that the expansion of the use of VLTs (Video Lottery Terminals), especially in the state of Rio de Janeiro, demonstrates how technological innovation can bring these products closer to a wider audience. He also highlighted that gamification represents another tool with enormous potential to boost the market, as occurred with the growing acceptance of the traditional bolões or collective bets.

Alessandro Montenegro Dantas, CEO of Aldeota, recalled that Brazil currently has more than 13,000 lottery points of sale, which constitutes a solid base to boost new marketing modalities. "Bolões have been very well received by the public and the expansion towards the digital environment is irreversible. We must become a store available 24 hours a day. Digitalization has proven to be a success and must continue to expand to strengthen the lottery business."

For his part, Roberto Quattrini, Managing Director of Novomatic, highlighted the market's growth thanks to the incorporation of Video Lottery Terminals (VLTs), clarifying that this equipment should not be confused with traditional slot machines. "Brazil has enormous potential for this technology and state lotteries have shown great interest in incorporating it, as is currently the case in Rio de Janeiro. However, each state is developing different regulations, which forces suppliers to adapt their products case by case. Greater standardization would facilitate technological development and significantly reduce costs."

Call to continue building the future of the Brazilian market

To close the program, José Aníbal Aguirre and Alex W. Pariente highlighted the intellectual contribution and depth of the presentations led by the GAT Brasil Ambassadors, a successful figure that brought together and managed to link a top-level roster to the arrival of GAT Events in Brazil. They also thanked the qualified participating speakers, coming from state institutions, renowned law firms, associations, suppliers, operators, and industry representatives who made this first edition in São Paulo possible.

José Aníbal Aguirre reaffirmed GAT Events' commitment to the development of the Brazilian market. “We arrived in Brazil to support the growth of the legal gaming and betting industry, both in the digital and land-based environments, under the parameters of responsible gaming. This great country meets all the conditions to become a global powerhouse in the sector, and we will be here, together with the GAT Ambassadors, accompanying its evolutionary process."

Next, Alex W. Pariente, Founder & Principal of Pariente Advisory and Chair of GAT Official Launch Brasil, protagonist of the structuring and selection of the agenda that thoroughly touched upon the main points of the current situation and opportunities of the Brazilian market. “Brazil has already shown all the demonstrations that it knows how to regulate online gaming. The time has come to apply that same capability to the land-based market. With clear rules, legal certainty, and an adequate tax system, Brazil will be able to attract major international suppliers and operators, positively impacting its economy and initiating a new stage for the industry.”

Finally, Aguirre and Pariente extended an invitation to the entire national and international gaming community to participate in the next edition of GAT Brasil, which will be held on October 20 and 21, 2027, again in São Paulo.

The GAT Brasil Ambassadors expressed their full satisfaction with the focus and course of the day, highlighting the quality of the program's content, as well as their willingness to continue accompanying the GAT organization in its initiatives for the years to come.

José Aníbal Aguirre expressed his pleasure with the results of this launch in Brazil and, in relation to the announcement of the realization of the 1st Latin American Congress on Responsible Gaming next year, he highlights the role of ALEA as a regional leader in research, study, and training on this component, absolutely key for the sustainability of the sector, as confirmed by the development of this meeting.

In this way, GAT Brasil consolidated itself as a new reference space for debate, regulatory construction, and the strengthening of an industry that seeks to be increasingly transparent, regulated, responsible, and sustainable.