Brazil Casino Bill Clears CommitteeLegislation Calls For Up To 35 Casinos |
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A bill that would legalize up to 35 casinos in Brazil cleared a committee vote this week, according to a report from CalvinAyre. The legislation would put a casino in every state, with up to three in the larger states.
The legislation would also allow for online betting.
The move to legalize casino gambling comes as Brazil’s economy is on track to record one of its worst years over the past three decades. The economy is expected to contract 3.5 percent, according to The Wall Street Journal.
Brazil thinks casinos could generate roughly $5.9 billion a year in taxes, if there was a 30-percent rate. The country banned them nearly 70 years ago. Brazil currently has a lottery and a horse betting industry.
Though casino gambling is illegal, major live tournaments do take place in the country. They just must be held in so-called poker associations.
The casino bill is one step closer to a full Senate vote.
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