32 New Casinos in Brazil May Soon Open
Last year, Brazil passed a law to allow lottery gaming and sports betting in land-based establishments. This week, news came out that a bill has been introduced to allow casino resorts inside Brazil, as well. If the bill is approved, more than 30 new casinos in Brazil could be constructed.
Fans of gambling have to be excited about this news. Brazil has been extremely strict on any gambling activities since the 1940s. Finally, that trend seems to be changing.
Steps to Have Casino Legislation in Brazil Passed
Unlike most countries, Brazil has stuck by the same set of gambling laws that they first implemented. In 1941, Decree Law 3688 passed. It banned virtually all forms of gambling throughout the country. Not until 2018 was a new gambling law presented.
That year, Brazil’s Senate approved a bill to legalize and regulate lottery and sports betting. President Michel Temer approved the new legislation, giving more than 200 million people in the country the ability to place wagers on their favorite sports. It wasn’t long before analysts started predicting casino legislation.
Paulo Azi, a member of the Democrat party, submitted a new proposal to allow casino gambling this week. If lawmakers here agree to the bill, 32 new casinos in Brazil could be constructed. The revenue earned from these establishments could be in the hundreds of millions.
Specifics of the New Casino Bill
This piece of legislation, named PL 530/2019, has a number of restrictions set in place. First, cities with a population of less than 15 million are only permitted to open one casino. States with a population between 15 and 25 million are allowed two casinos. The only city in Brazil that will be eligible to open three casinos is Sao Paolo, with over 45 million inhabitants.
The bill would also require potential casino operators to publicly bid for their chance to run a gambling establishment. The licenses granted will be eligible for 30 years.
The government will earn a flat 10% on the revenue earned through the new casinos in Brazil. This money will go towards public safety and tourism programs.
If the bill passes through the Senate, newly-elected President Jair Bolsonaro will need to approve it. Paulo Azi has claimed the President has already given him verbal support of the new legislation.
Will This Affect Brazil’s Online Gambling Industry?
The bill passed in 2018 opened up the possibility for Brazil to begin regulating their online gaming industry. In the past, most Brazilians chose to make their wagers online through gambling websites based in Europe.
Now, Brazil is working to create a legal framework to open this industry. According to some experts, Brazil’s online gambling market is the world’s second largest, worth $2 billion annually. If the government here adopts a legitimate licensing structure, they could earn hundreds of millions every single year.
Lawmakers are deciding the fate over the legalization of new casinos in Brazil. There’s a good chance this would allow for the regulation of online casino gaming, as well.
For now, we’ll have to sit back and wait on the results of the bill’s approval. Things are definitely changing in this South American country. Make sure to stay tuned to our news feed for updates on this situation as it unfolds.
Do you believe casinos in Brazil will become legal? Could this country soon become the biggest online gambling market in the world? Let us know what you think in the comment section below!
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