The South American nation of Brazil is preparing for a vote on legislation concerning gaming in the coming weeks, a move that could usher in a legal casino sector. This development coincides with Latin America’s emergence as a prominent region for gambling, as numerous nations opt to legitimize and oversee their respective markets.
The presiding officer of the Brazilian Chamber of Deputies declared that the legislative proposal, which establishes guidelines for the management, authorization, and revenue collection of gambling activities, will be presented for a vote in the following month. Should it gain approval, casinos could begin to appear as early as 2018.
Indications suggest substantial backing for the bill, with an estimated 262 out of 513 deputies expressing support, including President Michel Temer. Several lodging establishments in popular tourist destinations such as Guarujá, Campinas, and São José do Rio Preto have already conveyed their interest in integrating casinos into their properties.
Nevertheless, the bill must still undergo review and approval by the Senate, introducing an element of uncertainty.
If enacted, Brazil, with its substantial population exceeding 200 million, has the potential to become a significant participant in the international gambling arena. At present, illicit gambling operations generate an estimated $6.4 billion in annual revenue, as per the Brazilian Legal Gaming Institute. The legalization of gambling could bring this financial flow under governmental oversight.
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