Brazil Pushes New Bill To Legalise Casinos Throughout The Country
The coronavirus has caused massive losses to multiple industries including the global casino industry. Legislators in Brazil are not letting the coronavirus or the losses suffered by the casino industry worldwide to dampen their spirits.
Brazil has flirted with the idea of legalizing gambling for a number of years but no action has been taken so far in legalizing gambling. Brazilian President Jair Bolsonaro isn’t against the idea of a casino industry but has left the decision to individual states. Sports betting has already made inroads but casino gambling is going to be a tough sell. However, legislators are backing a new bill and are hopeful that this time around gambling will be legalized.
Casinos in the Amazonas
Alberto Neto, who serves as a federal deputy in the state of Amazonas, recently submitted his proposal for legal gambling in his state. Called PL 585/202, it has already garnered some attention with supporters saying it would boost tourism and can act as a potential example for other Brazilian states.
The main driving force behind the bill is revenue. The Amazonas is notoriously underdeveloped and needs revenue. PL585/2020 hopes to help with that and help reduce the potential losses as the Manaus Free Trade Zone is dissolved.
If the bill does get approved, it will allow the state to set up a Federal Revenue Service (FRS) which will be in charge of all the casino licensing and regulation for the state. The bill is still unclear on how it would operate its licenses and has no solid taxation rules yet though. What it does have is stiff penalties for casinos caught without a license, with fines ranging from $972 to $194,442.
Brazilian History of Gambling
Brazil used to have a legalized gambling industry. However, the country decided to completely ban gambling due to the immorality associated with it and imposed the ban in 1946. However, this ban might soon see a reversal as the country looks for more potential revenue sources. Gambling is an increasingly popular option among other countries in the world, which is why legalized gambling support is increasing.
But the bill is still in its early stages. It will have to survive the political obstacle course before it becomes a reality. Currently, the bill is with Rodrigo Maia, the president of the Chamber of Deputies. It will be up to him whether or not to let the bill go forward!