Brazil President Rousseff is facing impeachment as her country falls into economic despair, but gambling could arrived at her rescue.
Brazil is as soon as gambling that is again mulling, lawmakers within the cash-strapped country in the midst of economic devastation scrambling to find ways to fund the federal government without putting additional tariffs on citizens.
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 casinos and invite gambling enterprises to commence operations online.
Gambling enterprises have been prohibited 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 required to offset a dismal financial year for the country. Moody Investors Service recently downgraded Brazil to ‘Junk Status’ citing a rapidly deteriorating economy and ‘worsening governability.’
Legalizing gambling and Web gambling enterprises appears to be 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 associate gambling with corruption, many believing the venues become nothing more than resources from criminal syndicates to meet and exchange Continue reading “Brazil Special Senate Committee Recommends Legalizing Gambling”