KTO to close down after Brazil betting ban

The closure has not been officially confirmed by KTO, but employees on LinkedIn suggest this may be "the end of the company as we know it" KTO has reportedly shut down operations in its sole market of Brazil, less than three weeks after MP 1.394/2026 banned online betting in the country. Former employees appear to have confirmed the closure on LinkedIn, with various posts suggesting the company let go of more than 200 staff on 8 October.