08:17 AM EDT, 04/03/2024 (MT Newswires) -- DraftKings ( DKNG ) and MGM Resorts International ( MGM ) are mulling entry into Brazil's new regulated online gambling market, Bloomberg reported Wednesday, citing Brazil's Ministry of Finance.

The companies are among more than 130 firms that have pre-registered to get a Brazilian license, the report said, citing the ministry. The list also includes Hard Rock International, the report said.

"We are excited to see Brazil pass online gaming legislation, and as one of over 100 companies who submitted non-binding expressions of interest, we are continuing to explore the potential of expanding into Brazil in the future," Bloomberg quoted Griffin Finan, DraftKings ( DKNG ) senior vice president and deputy general counsel, as saying in an email.

Obtaining a license will require the companies to pay as much as 30 million Brazilian reais ($5.9 million), Bloomberg said, adding the license may have to be renewed every five years.

DraftKings ( DKNG ), MGM, and Hard Rock did not immediately respond to MT Newswires' requests for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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