The company KTO Group appears to have become a victim of the temporary ban on online betting in Brazil. According to posts by its employees on LinkedIn, the bookmaker has ceased operations.
Specifically, the closure of KTO Group was mentioned by the head of the company's affiliate program, Anthony MacKay. However, KTO Group itself has made no public announcements.
KTO Group was founded in Malta in 2018 and entered the Brazilian market in 2019. In August 2024, the company decided to withdraw from other countries, focusing exclusively on the Brazilian market.
At the beginning of last year, KTO Group became one of the first gambling operators to receive a full-fledged license to operate in the country. Although the company itself did not release reports, Blask analysts estimated its gross gaming revenue (GGR) for 2025 at approximately $54 million.
It is assumed that as a result of the closure of KTO Group, more than 200 people were left unemployed.