The long-debated bill to legalize land-based gambling in Brazil, which includes casinos, bingo, jogo de bicho, and betting on horseracing, may soon be decided by the Senate. Industry experts are optimistic that the bill will finally get approval, marking a critical step in the regulation of gambling activities in the country.
The online sports betting and iGaming sector is already set to be regulated, with the legal market launching on January 1, 2025. However, it remains unclear if Brazil will also legalize physical casinos and other forms of land-based gambling.
Land-Based Gambling- To Be or Not to Be?
The proposed bill, PL 2,234/2022, narrowly passed the Justice and Citizenship Committee in June, with a 14-12 vote. The bill was expected to be addressed by the Senate following its return from recess on August 1, but as of early September, it still awaits a vote.
Senator Irajá has recently emphasized the urgency of legalizing land-based gambling, expressing confidence that the Senate now has the necessary votes to pass the bill, pointing out as follows:
“The text is ready to be assessed and voted on. I am convinced that we already have the votes to approve the project, which is important for Brazil.”
Industry Optimism Grows for Legalization
Several key figures in the gambling industry agree that the time is right for Brazil to legalize land-based casinos. Alex Pariente, corporate senior vice president of casino and hotel operations at Hard Rock International, echoed the sentiment that legalizing bricks-and-mortar casinos is essential for formalizing the industry.
He noted that unregulated gambling is already taking place, and introducing a legal framework would help protect bettors and ensure that gambling operators adhere to responsible gaming practices.
“I think we are at the point right now, again, anything can happen, but that everybody understands that it’s better for everybody to be given an opportunity to come up to the surface, formalize their businesses, contribute their taxes, and adhere to the responsible gaming practices to protect the population”.
Pariente also highlighted the support of Brazil’s finance minister, Fernando Haddad, and President Luiz Inácio Lula da Silva, both of whom have publicly backed the bill. If the legislation passes the Senate, President Lula would need to sign it into law.
Concerns Over Narrow Passage
Despite the general optimism, some concerns remain about how narrowly the bill passed the Justice and Citizenship Committee. However, Hugo Baungartner, chief commercial officer at Aposta Ganha, believes the Senate vote will not be as close as the committee vote.
He explained that the 14-12 margin was specific to the committee and that a broader Senate vote could yield a more favorable outcome for the bill, stating as follows:
“The 14-12 was in the particular commission. Now, going to the whole Senate, it might be different. I think we have more votes in favor than against.”
Baungartner added that while discussions around gambling regulation in Brazil are often contentious, there are now more opportunities to gain support from Senate members.
Economic Benefits of Land-Based Casinos
One of the primary arguments in favor of legalizing land-based gambling is the potential to boost Brazil’s tourism industry.
Pariente cited the Dominican Republic as an example, where Hard Rock operates an integrated resort. Despite being much smaller than Brazil, the Dominican Republic attracted over 10 million tourists in 2023, compared to Brazil’s six million.
According to Pariente:
“Brazil is an absolutely beautiful country and very diverse. There’s absolutely everything there is to see in Brazil, but yet we don’t have a clear tourism policy that has been developed and has been sustained that can be consistent with attracting tourists into the country.”
Looking Ahead
As the Senate prepares to vote on land-based casino legalization, Brazil is poised to become a key player in the global gambling industry. If the bill passes, Brazil could attract significant tourism and investment, boosting its economy and creating new jobs.
Hard Rock International, with its extensive experience in integrated resorts, is well-positioned to take advantage of the new opportunities that land-based casino legalization would bring.
While there are still some details to iron out, the vote on PL 2,234/2022 represents a critical step toward a more regulated and profitable gambling environment in Brazil. If all goes as expected, Brazil’s gambling industry could soon rank among the largest in the world.
META: Brazil’s Senate is set to vote on legalizing land-based casinos and other gambling activities this week. ➤Industry insiders expect the bill to pass soon.
Source:
“Will the Brazil land-based casino vote get over the line?”, Kyle Goldsmith, September 3, 2024.
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