Nordic online gambling operator Betsson AB has reportedly taken a majority stake in Brazilian race betting operator Suaposta.

On Tuesday, Games Magazine Brasil reported that the Stockholm-listed Betsson had taken a 75% stake in Suaposta, Brazil’s only locally authorized horseracing online betting operator. Suaposta is run by the Rio Grande do Sul Jockey Club (JCRGS), which has been operating from its Porto Alegre headquarters for over a century.

Suaposta’s founders André Gelfi and Fernando Corrêa will reportedly continue to direct the company’s local operations. Gelfi told GMB that joining forces with Betsson “puts us in an interesting position to contribute to the development of the onshore sports betting market in Brazil.”

Suaposta may have an illustrious history but the racing game in Brazil hasn’t been spared the sector’s challenges, including an inability to convince younger bettors that racing isn’t dull as dishwater. In late November, the JCRGS board of directors posted an editorial bemoaning the lack of “government incentive” in ensuring the future of local racing.