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Brazil Could Get Casinos Soon; New Bill Proposed
March 29, 2020 TamaraTam
Brazil has been considering further casino legalization for a while. However, the long-awaited idea has become reality in the recent period. State lawmakers are ing the expansion of the gambling industry and president, Jair Bolsonaro, is of the same opinion. According to Bolsonaro’s words, individual states in the country should decide on the matter.
The sports gambling sector has also received adequate but legislative permission will take some time. The government has just prepared a Bill draft to the local industry in the endeavors.
About Bill
Brazilian federal deputy, Alberto Neto, has submitted Bill PL 585/2020, which would allow casino operation across the state. The local media newspaper Amazonas Atual explained that the Bill will open the doors for better tourism in the country as well as serves as a barometer for the gambling industry in other areas of the country.
It is also planned that the new legal instrument – PL 585/2020 – the sector in helping to overcome economic issues in Amazonas. It is reportedly Neto’s belief that casinos can aid in preventing huge financial losses resulting from the dissolution of the Manaus Free Trade Zone, which will have a substantal impact on the region.
He said:
“With the risk that the Manaus Free Trade Zone is nearing its end, compensatory measures are needed, more than ever, necessary. If the current government decides to remodel the ZFM, we must think about compensatory measures for our state.”
Other
Another plan is the establishment of Federal Revenue Services which would be responsible for supervising the licensing process and entire control of the sector. Neto didn’t say anything about possible revenues of future casinos and expected taxes. However, he observed that unauthorized casino operators would have to face fines for violations of between R$5,000 (US$972) to R$1 million ($194,442).
Taking a look back, Brazil used to be a country with legalized gambling sector. Starting from 1946, the conservative party banned the operation considering it immoral. The LatAm country now looks to boost its sources of revenues and the gambling industry is seen as a real contributor to the leading economies worldwide. For this reason, state legislators have already commenced the conversations regarding the approval of the option.
It has yet to be determined whether or not the proposal will get sufficient in the government. The Bill is currently in the hands of the president of the Chamber of Deputies, Rodrigo Maia, and he will decide about moving forward with the idea.
Source:
“New bill hopes to put casinos in Brazil“, calvinayre.com, March 24, 2020.
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