Why Brazil is fast-tracking gambling bill

Why Brazil is fast-tracking gambling bill

Monday, December 21, 2015 Totally Gaming
Brazil could soon allow casinos for the first time since 1946

Brazil’s proposed gambling reforms have been fast-tracked as the country reacts to its escalating financial problems.

Bill 186/2014, which would legalise casino gambling for the first time in 70 years and create a regulatory framework for online gambling, was only passed by the Senate Commission for Regional Development and Tourism two weeks ago.

However, Bill 186/2014 has already been accelerated to the House of Representatives for approval, side-stepping a legislative process that usually takes months.

While a similar bill was vetoed by President Dilma Rouseff in July, having been passed by the legislature, it is felt that this proposal is now likely to become law as Brazil – which was downgraded to ‘junk’ status by Standard & Poor in September because of the country's deteriorating budget deficit and political turmoil – attempts to balance the books.

The bill’s author, Ciro Nogueira, has claimed that legalised gambling could raise up to R15bn (€3.65bn/$4.0bn) in taxes per year.
 

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