New proposals for Brazilian market
The Brazilian administration is evaluating the privatisation of the current state lottery market.
Brazil.- The Congress of Brazil may soon approve a proposal to privatise the current state lottery industry. Whilst legislators have paused the evaluation of gaming legalisation, the newest project could see the green light by the end of 2017. The national lottery is currently operated by Caixa Econômica Federal.
According to the news agency Reuters, the Finance Minister Henrique Meirelles revealed this week that the government is planning to auction off a lottery in the following months. The movement could be set in a general privatisation plan to restructure the economic situation of the South American giant.
Although the plan has not been formally introduced, the government has already begun the negotiations with current operators. Earlier this week, Latin American newspapers suggested that political parties could become lottery operators under the proposal. The gaming license could contribute with economic funds in order to improve the campaigns.
The political crisis in Brazil has delayed the Congress and House of Representatives’ debates on gaming legalisation. The Operation Car Wash scandal involving a huge number of politicians has pushed back any other issues to be discussed at the National Congress and it’s still uncertain when the gambling industry is going to be able to arrive in the country. Despite uncertainty, casino giants Las Vegas Sands Corp. and Caesars Entertainment still have Brazil under their radar as a potential market.
