Latin America has been recently drawing a lot of attention with more countries legalising their respective gambling markets. And now, Brazil may be the next nation to introduce a regulatory framework.
According to the local news magazine Vieja, the president of Brazil’s Chamber of Deputies has stated the country will vote next month on the legislation of casinos in order for its provisions to come into effect as a law.
If signed into law, the bill would create a regulatory framework for the operation, regulation, and taxation of gambling; and the construction of casinos could begin in 2018.
Marquezelli has detailed that out of 513 deputies, 262 are in favour of legalising casinos, including the current President of Brazil, Michel Temer.
Following the statement, hotels in Guarujá, Campinas and São José do Rio Preto have confirmed their interests in holding gambling activities at their resorts.
Despite the support from the National Congress, the bill would still have to pass through the Senate.
Under the new legislation, Brazil, with a population of 207 million people, would become the world’s largest regulated gambling jurisdiction. According to the Brazilian Legal Gaming Institute (IJL), approximately R$20bn ($6.4bn) is generated annually from illegal gambling services.
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