Brazil Looks At Legalizing Casino GamblingCountry Seeks Temporary Fix Sluggish Economy |
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Lawmakers in Brazil think legalizing casinos could generate roughly $5.9 billion a year in taxes, and so they are considering allowing them nearly 70 years after banning them.
The plan would be to tax them at roughly a 30 percent rate. According to Retuers, President Dilma Rousseff’s chief of staff ran the idea by lawmakers this week. Brazil reportedly is facing is worst economy in 25 years.
Opponents of casinos in the country cite past cases of government corruption. Casino supporters say better regulation could make the industry safe for country.
Brazil currently has a lottery and a horse betting industry.
“By the time the Brazilian market opens there will be a line out the door,” a Sao Paulo-based gaming lawyer told Retuers about the attractiveness of the country to developers.
Earlier this year, Brazil banned playing online poker on mobile devices in public areas, according to various media reports. It’s not regulated in the country, but playing the games in the privacy of your own home is still OK. Though casino gambling is illegal, major live tournaments have taken place in the country. They just must be held in so-called poker associations.
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