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.
Neither bill reached the floor for a vote. The Senate bill was sent back to committee on December 15th. The COD had a public meeting to discuss their version of the bill on December 13. The first bill to be approved by one of the legislative bodies will go to the other house for consideration and modification. The modified bill will then go to the approving legislature where they will have final say. The last step to passage will be signature by the President. Proposed legislation assumes key missing regulatory items are to be decided in gaming regulations to be enacted following passage of the bill.