JPJ hails Brazilian bingo potential after product launch
Operator confirms launch of a “very nascent product” under its Vera&John segment
Jackpotjoy plc (JPJ) has hailed the potential for online bingo in the Brazilian market after going live in the country in Q3.
The firm revealed in its recent earnings call it had launched operations in the South American country during the last quarter under its Vera & John business segment.
“Physical bingo is very popular in Brazil, so it could be a huge market for us,” noted CFO Keith Laslop. “But again, it could take years to come to fruition”.
JPJ’s director of investor relations, Jason Holden, confirmed the launch of a “very nascent product” to EGR but declined to say which specific brands were being used in the market.
He added: “It’s currently very small but bingo is big in Brazil in its land-based form and it could be a significant market for us in the future especially if it regulates.”
The push for regulation in Brazil has picked up momentum in recent weeks, with the Senate currently debating a wide-ranging gambling bill that would legalise online gaming as well as land-based bingo and casinos.
The liberalisation of gambling could raise annual revenues of £4.5bn, according to Brazilian officials.
The bill, PL 442/91, is also being backed by a new lobby group focused on gambling regulation.