Lanistar launches new gaming sites in Brazil as secures right to operate pending final approval on its licence

Nexus International buys assets and IP of Lanistar as it divests its legacy business, enabling it to target multi-billion-dollar market

LONDON, Dec. 13, 2024 /PRNewswire/ -- Lanistar has achieved a significant milestone by securing one of the first gaming licences awarded by the Brazilian SIGAP - Sistema de Gestão de Apostas (Bet Management System) in what is a transformative move for the business. The business now secured the right to operate in the Brazilian pending licence approval.

Two online platforms (skins) have been launched and are now live including megaposta.com as the business targets one of the fastest growing online gaming markets globally.

Gurhan Kiziloz, Founder, stated: "The global direction of gaming regulators over the last decade has been to replace grey markets with legal, regulated markets. This has been a response to the proliferation of online sports betting and the globalisation of the industry. So we are thrilled to have been able to launch pending the final approval on a licence to operate but to do so in a market which is set for huge growth."

"Central to this was how we managed the future of the legacy business. As we prepared to enter this market, we took the decision to sell the IP and assets of Lanistar based in the UK, to Nexus International for an undisclosed sum," continued Kiziloz.

"This cleared the way to divest of our legacy business and enables us to focus 100% on the Brazilian gaming industry. It also enabled us to reinvest the multi-million £ raised in that sale back into the new operation and ensure that we are cashflow positive from the get-go. This is without doubt the most exciting new operation I have launched to date and one that is already reaping rewards."

Online sports betting in Brazil began in 2018, but the government did not start regulating the activity until this year. 

Brazilians spent 68.2 billion reais ($12.2 billion) in the year ending in June on gaming platforms abroad, according to an analysis by lender Itau Unibanco, based on central bank data. That would put it among the world's top six sports betting markets.

In a drive to regulate the sector, the Normative Ordinance 827 was published in Brazil's Official Diary of the Union on 21st May 2024, which laid out the requirements for those hoping to secure sports betting and gaming licences in Brazil. 

It kicked off an "adjustment period" in which gaming operators active in Brazil had until 31 December 2024 to comply with the regulatory framework for sports betting and iGaming. Companies' applications submitted within 90 days of Ordinance 827's release were prioritised for assessment.

Authorised operators have been granted a licence lasting five years, once a BRL30m ($5.9m) fee is paid, and able to offer gambling via three skins.

As with regulations in many other countries, companies must provide documentation proving they are legally qualified to operate in Brazil, including identification and registration forms for controlling entities. They must also submit a declaration of compliance with payments regulations, supported by certification from the Central Bank of Brazil. 

"We fully support the drive to regulate the sector and have complied with all the requirements we needed to ensure we were granted an operating licence. Regulation is good for both consumers, who enjoy better, more reliable services and betting companies, who can operate in a transparent predictable market," concluded Kiziloz.

Notes to editors

About Lanistar

Lanistar was founded in 2019 by entrepreneur Gurhan Kiziloz, whose ambition is to build a fintech unicorn.

Using modern technology and working with industry-leading partners, the Lanistar team has successfully launched its first gaming sites in Brazil and is licensed by SIGAP - Sistema de Gestão de Apostas.

Contact
RICHARD MERRIN 
[email protected] 

SOURCE Lanistar