Wednesday, December 13, 2017

Brazil’s Constitution and Justice Commission to Vote on Gambling Legalization Bill

Brazilian lawmakers are set to vote on a bill that calls for the legalization and regulation of a number of gambling services in the country. Members of the Senate’s Constitution and Justice Commission are set to cast their votes on the legislative piece today, December 13, after reviewing its revised version last week.

Authored and sponsored by Senators Ciro Nogueira and Benedito de Lira, PLS 186/2014 has been floating across Brazil’s legal scene in one form or another over the past several years. Sen. Nogueira, in particular, has turned into one of the staunchest supporters of a major gambling regulatory overhaul in the country.

Although his bill has gained a certain amount of momentum over the years, no important actions and decisions have been made in relation to what it has been calling for.

With very few exceptions, gambling is prohibited in Brazil and has been prohibited for over six decades. Sen. Nogueira has maintained that a change in the legal status quo is a necessary move as the lack of proper regulations has resulted in Brazil losing billions each year to offshore operators that have targeted local players on the Internet and to domestic providers of illegal gambling services. According to the lawmaker, Brazilians annually wager R$18 billion (approximately $5.4 billion) on different illegal gambling activities.

It is believed that with proper regulations and taxation, the South American country could turn into one of the world’s largest regulated markets, if not the largest one. Major international land-based and online gambling operators have expressed interest in operating in the country. Las Vegas casino giants Las Vegas Sands and Caesars Entertainment have been among the companies to have revealed plans to build casino resorts in Brazil, if it legalizes casino gambling.


Post a Comment