7 December will mark a key date for the South American gambling sector, as Brazil’s Senate will finally vote on the introduction of a new gambling framework, having this month approved final amendments to Bill 186.
The Senate will vote on the introduction of a wide-ranging gambling framework covering, new land-based provisions for casinos, bingo parlors, and lottery games. Furthermore, Bill 186 will see the introduction of Brazil’s first online sports betting regulatory provisions.
Confirming Bill 186 final approval, the Brazilian Upper House will cast its final vote on December 7, with industry commentators agreeing that this country’s best chance in years at finally legalizing and decriminalizing gambling for Brazil’s consumers.
Pressure has been placed on Senate President Renan Calheiros to review the bill and make its official decision this December, to avoid any seasonal parliamentary breaks. Furthermore, the government is being pressed by national and international gambling stakeholders seeking clarity on business conditions and agenda for 2017.
Industry analysts believe that a regulated framework could see Brazil gain a potential gambling market estimated to be worth approximately $17 billion a year, with circa $6 billion generated by the government in the form of taxes.
Despite Bill 186 backers being agreement, that it represents the country’s best chance at establishing a progressive gambling framework, 2016 has been a year governmental turmoil for a cash-strapped Brazil, which saw President Dilma Rousseff removed from office in this August.
Few industry commentators will, therefore, be surprised if Bill 186 faces further delays in its final journey…