The State Bank of Espírito Santo announced that its Board of Directors approved on Tuesday (13), the creation of a subsidiary to explore the public lottery service of the State of Espírito Santo. According to the institution, the approval was given in accordance with legislative authorization and by the Central Bank of Brazil. The information was disclosed to the market in the form of a Material Fact presented to the Stock Exchange.
Governor Renato Casagrande celebrated the news on social networks, highlighting that the revenue from the games will be allocated to crucial areas, such as health, sports, and social assistance in the state. In his post on X, Casagrande stated: “an initiative that reinforces our commitment to generating revenue and investing in the well-being of the population”.
The exploration of lotteries was authorized by a state law enacted in December 2023. According to the law, the State Bank of Espírito Santo (Banestes) will be able to offer both physical and virtual betting, with modalities to be defined by decree.
The operation is expected to start in the second half of 2025, and the bank is analyzing the possibility of offering, in addition to traditional modalities, sports betting.
Below is the Material Fact disclosed to the market:
“BANESTES S.A. (B3: BEES3 and BEES4), in accordance with CVM Resolution No. 44/2021, informs its shareholders and the market in general that the Board of Directors approved, on this date, the establishment of a subsidiary for the purpose of exploring the public lottery service of the State of Espírito Santo, as authorized by State Complementary Law No. 1.069, of December 19, 2023, by State Law No. 11.617, of May 19, 2022, and by the Central Bank of Brazil, through Official Letter No. 21249, of August 8, 2024. Banestes reiterates its commitment to keeping shareholders and the market in general adequately and timely informed about the future developments of this project”.
Silvio Henrique Brunoro Grillo
Director of Investor Relations and Finance
Source: GMB
