Brazilian Deputy Joao Carlos Bacelar, coordinator of the Mixed Parliamentary Front for the approval of the country’s Gambling Regulatory Framework, says casinos alone are not an adequate solution for the country’s battered economy, worsened by the Covid-19 pandemic.
Bacelar says integrated resorts of the kind envisioned by Las Vegas Sands chief Sheldon Adelson could create a monopoly that would mainly enrich foreign companies. Moreover, they would take too long to being producing revenues.
According to SBC News, Bacelar is in favor of legalizing all gambling verticals, including jogo do bicho. He believes the market could be worth $10 billion and generate up to $1.8 billion in taxes.
“These are annual estimations,” the deputy said. “Gambling has an extremely high potential, unlike casinos, which would take three to four years to generate profits for the country. In other words, we are losing money.
“Furthermore, if we only legalize integrated resorts, we will hand over the entire sector to North American corporations, which are only interested in implementing these projects in Rio de Janeiro and São Paulo.”
In Bacelar’s view, 10 casino resorts would employ up to 20,000 people, but opening the door to all types of gambling would create 650,000 direct and 600,000 indirect jobs. Authorities hope that if the Gambling Regulatory Framework is approved, the number will be even higher.
“We could create more than 1.3 million new jobs,” he said. “The sector can also promote tourism, generate more jobs for drivers, waiters, cleaning services, artists and more.”
Games Magazine Brasil reports that Roberto Haro Nedelciu, president of the Brazilian Association of Operators and Tourism (Braztoa) expects casinos within existing resorts could be permitted in the near future. “There will be some areas that may allow them,” he predicted. “I don’t have a crystal ball to know when, but maybe next year or the next one.”
President Jair Bolsonaro, meanwhile, is looking to attract private investments related to tourism and culture in Brazil within the scope of the Investment Partnerships Program (PPI), but has seesawed in his views about casino gaming. But the Interministerial Committee strongly advocates for their legalization as one way to attract billions of dollars in investments and generate thousands of jobs.
