In this interview with Juliette Saly on Ausbiz, Tom Waterhouse discusses what the investment team learned at SBC Summit Rio 2025.

Tom highlights Brazil’s evolving gambling market and the government’s interesting approach to regulation, which includes offering all forms of online gaming and putting an end to grey market payments.

Operators in the sector need to differentiate themselves in regulated markets through product and UX rather than marketing and advertising due to restrictions.

The news in the local market has been Japanese company MIXI’s takeover bid for PointsBet, while ASX-listed BlueBet has also made a competing bid. Tom notes the advantages of scale and tech platforms in today’s wagering market and shares his insights on future M&A activity in the space

Watch the full interview: