Tanking economy a factor
A special gaming committee from Brazil’s Chamber of Deputies last month approved a plan to bring full-scale casino resorts and other games to the massive South American country.
According to CDC Gaming Reports, the proposal would green-light as many as 34 casino resorts with the possibility of more under an exemption for the state of Minas Gerais. Deputy Elmer Nascimento says he will push for a vote this year.
The legislation coincides with tough economic times in the country. The Brazilian economy is expected to contract 3.5 percent this year, the Wall Street Journal reported earlier this year. Based on a 30 percent tax rate, supporters say, the industry could generate up to $3.7 billion for the government.
Though Brazil banned casinos nearly 70 years ago, it has an active lottery and a horse betting industry and allows major live tournaments to be held in poker associations.
