Brazil is a country with 210 million people, the 6th largest population in the world. In 2003, there were over 1,200 “Bingos” (slot parlors) in the country generating ~ $800 million of GGR; gaming was then outlawed in an effort to eliminate criminal involvement.
Both houses of Brazil’s Congress, the Senate and the Chamber of Deputies (“COD”), proposed bills legalizing gaming to generate economic growth, jobs and tax revenues. Published analyst estimates for Brazil Gaming GGR range from $9B to $17B; Brazil would be the third largest gaming jurisdiction in the world after the US and Macau.
The bills propose a massive legalization of gaming to include Integrated Resorts, Slot Parlors, Routes, Lotteries, Sports Betting, Internet Gaming and legalization of the currently popular Jogo de Bicho.
Based on our discussions with government officials, lawyers, lobbyists and industry participants, it appears that legalization will occur in a step fashion to enable regulation to keep up with legalization. Our assessment is that the sequence will be lottery privatization, sports betting, large-scale casinos, internet gaming and then slot parlors (bingos) and others.
Privatization of Lotex, Brazil’s instant lottery
Spectrum Gaming Capital released a report on Attracting Investment to a New Brazil Gaming Industry
SUMMARY OF BILLS PROPOSED