The South American nation of Brazil is moving closer to making gambling legal, with the lower house of Parliament scheduled to vote on proposed legislation next month. The legislation, which has been gaining traction in recent years, seeks to create a system of regulations for the gaming sector, encompassing everything from management and supervision to taxes.
If the legislation is enacted, it could clear the path for casinos to begin operating as soon as 2018. A substantial level of support for the bill already exists, with more than 50% of the House of Representatives, including the nation’s leader, Michel Temer, supporting it. Numerous hotels in popular tourist destinations like Guarujá, Campinas, and São José do Rio Preto are keen to capitalize on the potential opportunity, indicating their interest in adding casinos to their properties.
However, the bill’s path is not yet complete. Even with the House’s endorsement, it still requires approval from the Senate. If it succeeds, Brazil, with its vast population exceeding 200 million, is positioned to become a significant force in the worldwide gambling arena. At present, illicit gambling flourishes within the country, generating an estimated $6.4 billion yearly according to the Brazilian Institute of Legal Gaming (IJL). Legalizing gambling could bring this revenue stream under government authority, potentially delivering a substantial boost to the nation’s economy.
