Are video games released in Latin America translated into Spanish or Portuguese?

Answer 1

Game corporations decide on doing translations depending on expected sales rates, and usually you can change the language in the language settings. Some others, from online purchases, they detect your region language and set it up for you (which is a pain sometimes if you want the original language).

Since Spanish is spoken by a wide range of countries, it is most likely to have that as a language option. Portuguese is not as widespread and not all games are sold with that language option.

Also, Latin America is not an official denomination nor it has a well structured set of rules as to define that. If you are trying to say South America (where there are Portuguese, Spanish, French, English and Dutch speaking countries), they will probably sell the game in the country's official language option if available.