Brazil President Rousseff is dealing with impeachment as her country falls into economic despair, but gambling could come to her rescue.
Brazil is when again mulling gambling legalization, lawmakers into the cash-strapped country within the midst of economic devastation scrambling to find ways to fund the government without placing extra tariffs on residents.
The Brazilian Senate Commission for Regional Development and Tourism voted this week in favor of Bill 186 of 2014, legislation that would authorize up to 35 land-based gambling enterprises and invite gambling enterprises to commence operations online.
Gambling enterprises happen prohibited in the country since 1946.
Illegal gambling in Brazil is estimated to be a nearly $5 billion yearly industry, and legislators affirm tapping into that market will become necessary to offset a dismal economic year for the country. Moody Investors Service recently downgraded Brazil to ‘Junk Status’ citing an economy that is rapidly deteriorating ‘worsening governability.’
Legalizing gambling and Web casinos appears to be considered a viable solution to make up at part that is least of the mounting budget deficit. Persuading residents to get behind gambling might be a more task that is difficult in other countries.
Brazilians gambling that is associate corruption, many believing the venues become nothing more than utilities from criminal syndicates to meet and e Continue reading “Brazil Special Senate Committee Recommends Legalizing Gambling”