Brazil President Rousseff is dealing with impeachment as her country falls into economic despair, but gambling could arrive at her rescue.
Brazil is once again mulling gambling legalization, lawmakers within the cash-strapped country in the midst of economic devastation scrambling to find ways to fund the government without placing extra tariffs on residents.
The Senate that is brazilian Commission Regional Development and Tourism voted this week in support of Bill 186 of 2014, legislation that would authorize up to 35 land-based gambling enterprises and invite gambling enterprises to commence operations online.
Casinos were banned in the national country since 1946.
Illegal gambling in Brazil is estimated become a nearly $5 billion annual industry, and legislators affirm tapping into that market is necessary to offset a dismal monetary 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 Internet gambling enterprises seems to be considered a viable solution to make up at part that is least of the mounting spending plan deficit. Persuading residents to get behind gambling might be a more task that is difficult in other countries.
Brazilians associate gambling with corruption, many thinking the venues become nothing more than resources from criminal syndicates to meet Leer más