Legislation

Brasilian reporter of Gambling Bill says proposal could generate USD $4.4 billion in revenue

Thursday 04 de July 2024 / 12:00

cbn.globo.com

⏱ 1 min read

(Brasilia).- Senator Irajá Silvestre, the reporter of the Gambling Bill, met with Finance Minister Fernando Haddad on Tuesday to seek the support of the economic team in advancing the bill to a vote.

Brasilian reporter of Gambling Bill says proposal could generate USD $4.4 billion in revenue

The regularisation of casinos, gambling and other games of chance could generate around usd 4.4 billion in revenue per year. According to him, the agenda is ready to be voted on and has the support to be approved.

According to Irajá, the time to vote is before the parliamentary recess. To this end, he requested that the proposal be included on the Senate's agenda as early as next week.

"We need to remember that the bingo, gambling and horse racing markets already exist in a clandestine way. So once it's regulated and those companies that already exist or new companies are accredited, authorised - this will be done either by the Ministry of Finance or by a regulatory agency - they'll start collecting taxes overnight. For example, what happened with sports betting, which used to operate informally and is now operating formally in the market."

The Ministry of Tourism and organisations such as the National Trade Confederation have already expressed their support for the bill.

Categoría:Legislation

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País: Brazil

Región: South America