Brazilian Senate continues work on bill regarding brick-and-mortar casinos
Amid the debate and ongoing discussions about various aspects of gambling, Brazil's Senate continues to consider another groundbreaking bill that would legalize and legalize the operation of land-based casinos, bingo halls and horse racing betting in the country. Regulate it.
The proposal introduced in the House of Representatives more than a year ago drew mixed reactions. Supporters emphasize potential economic benefits and job creation, while opponents express concerns about possible social and ethical impacts.
The bill is likely to advance again on Wednesday and appear on the calendar of the Senate Committee on Constitution, Justice and Citizenship (CCJ, for its Portuguese abbreviation). However, according to a calendar update, the meeting has been cancelled.
Where is the bill
Potential legislation would allow casinos to be set up in tourist destinations or integrated parks, with one casino per state and federal district. São Paulo was granted special privileges to have three casinos. In addition, the states of Minas Gerais, Rio de Janeiro, Amazonas and Pará can each have two casinos within their jurisdiction.
In order to qualify for casino activity, a company must have a paid-up capital of at least BRL 100 million (USD 20 million). Additionally, they must obtain a license that is valid for 30 years.
The bill proposes a comprehensive framework for monitoring bingo games, covering both physical and digital cards. Additionally, the legislation authorizes each state to designate a legal entity to oversee and operate the traditional Brazilian game of Jogo do Bicho, a popular lottery game.
Only one Jogo do Bicho permit is issued per area with a population of 700,000 or more. The license is valid for 25 years and can be extended for a further 25 years.
Regarding horse racing, the law authorizes the Department of Agriculture’s tourism agency to be authorized to place bets. In addition, these organizations are authorized to hold licenses to host bingo tournaments in both traditional and digital formats.
Tax rate still uncertain
To generate revenue from the regulated gambling industry, the bill proposes two new taxes. Operators must pay gambling and betting control fees and intervention fees.
The former will inspect and monitor gaming activities at a rate of up to 17% of the gaming company’s total turnover. The latter is still under consideration and would bring additional revenue to the state coffers.
Brazil’s Senate recently passed a sports betting bill that lowered the initially proposed tax rate. The final version of the bill proposed 12%, a 6% reduction. Therefore, it is also possible that the new casino bill will provide for reduced gambling and betting inspection fees.
Despite mixed reactions from lawmakers, the bill remains in effect. It has received strong support from various sectors, including tourism and gaming companies, who see it as an opportunity to revive their business.
As the end of the year approaches, there is little chance the bill will make it to the CCJ. Once this happens, it will still need to be voted on by the plenary session and then returned to the House of Representatives.
Read also:
- Football 101: What is relegation in football?
- In Massachusetts, the limited number of successful sports betting providers is coming into focus
- 888 Holdings rejects Playtech's $890 million takeover bid
- Argentina casinos at center of political money laundering probe
Source: www.casino.org
