Multibet, a betting company belonging to the Minas Gerais capitalization group Multicap, has started a consolidation movement in the Brazilian market by acquiring its competitor Elisa.bet, which has more than 1.2 million players on its platform. With this acquisition, Multibet adds R$ 165 million to its revenue, expanding its customer base, which already has about 1 million CPFs registered, mainly in the Southeast region.
James Oliveira, operations director of Multibet, stated that the purchase of Elisa.bet is part of the company's strategy to position itself among the leaders of this competitive market, highlighting the digital expertise that Elisa.bet brings as a digital-native company.
The Multicap group is known for its portfolio of capitalization titles in states such as São Paulo, Mato Grosso, and Amapá. In the gaming segment, it owns the brands Aposta Esportiva and Multibet, focused on sports betting and online casinos, respectively.
The acquisition occurs at a significant time for the sports betting sector in Brazil, which was recently regulated. Of the nearly 10,000 betting operators that were active in the country until the end of 2024, only 66 were authorized to operate nationally after the new rules implemented on January 1, 2025.
Renowned companies like Sportsbet.io, have ended their activities or are facing difficulties in maintaining their licenses in the country, due to high licensing costs, taxation, market instability, and increased regulatory restrictions.
Multibet sees in the regulation an opportunity to incorporate companies that left the national market due to the new rules. The company plans to invest R$ 50 million in the acquisition of five other operators in the first quarter of 2025, aiming to expand its presence throughout the national territory.
With these acquisitions, Multibet intends to reach R$ 1 billion in bets by the end of 2025, a significant growth compared to the R$ 182.5 million recorded in 2024.
Brunno Galvão, CEO of Crownstone Ventures, a company specialized in mergers and acquisitions in the sports betting sector that led the negotiation for Multibet, believes that consolidation is the future of the segment, following the example of what happened in Europe.
He highlights that incorporating already established and experienced operators is one of the best ways to grow in the market, especially at a time when many companies have opted to leave Brazil.
Source: Neofeed
