Need for jobs, industry
Brazilian President Dilma Rousseff is kicking off 2016 with a renewed push for gaming legislation, according to reports.
Bill 186/2014, which has already passed one Senate commission, provides for land-based casinos and bingo halls and online gaming. If approved, the legislation could bring up to 35 casinos to Brazil and also permit online gaming. The bill now heads to the senate general assembly. If approved there, it will head to the House of Representatives and finally Rousseff.
Todd Eilers of Eilers Research recently said 25 casinos with an average of 1,000 slot machines each would mean 25,000 Class III gaming devices in the country. About 195,000 Class II devices may be added in new bingo halls.
Rousseff is undoubtedly motivated by the tanking economy in Brazil. Last year the country recently reported its worst economic growth performance in more than 20 years. A casino industry with a 30 percent tax rate could generate $5.9 billion a year in new taxes for the government.
Brazil banned casinos nearly 70 years ago, but has an active lottery system, a horse betting industry and poker associations.
