The casino industry is set to see a major boost after years of closures as casinos have struggled to compete against unlicensed slots. In January 2020,
Foxwoods unveiled plans for a new multi-million-dollar casino at one of the island’s most iconic
properties: the El San Juan Hotel. Now part of Fairmont Hotels & Resorts the new casino will add a $12.5m investment in addition to a
recently completed renovation for the hotel.
Puerto Rico
compatible with a new (but not yet operational) central monitoring system. Te newly connected machines are expected to generate an additional $100m for the government.
Meanwhile, the arrival of sports betting will have a huge impact on the industry in the long-term leading to more investment. Major operators are already making a move. In September 2021, MGM and Casino del Mar at La Concha Resort announced that they had agreed to a deal that would see BetMGM open a sportsbook at the resort’s casino as well as offer online sports betting. BetMGM said it would expand its retail and mobile sports betting offerings to Puerto Rico if its license is granted.
In addition, the casino industry is set to see a major boost after years of closures as casinos have struggled to compete against unlicensed slots. In January 2020, Foxwoods Casino in Connecticut unveiled plans for a new multi- million-dollar casino at one of the island’s most iconic properties: the El San Juan Hotel.
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Puerto Rico Changing the route to market
Puerto Rico was devastated after Hurricane Maria in 2017. Significant changes have been made to gambling regulations, which will help raise millions in much needed revenue. Firstly, the government has implemented changes to slot machine regulation which is generating significant revenues for the government while land-based and online sports betting will soon be available as well.
In October 2020 the Department for Economic Development and Commerce confirmed that the regulations over route operators had come into effect. According to current regulations the number of slot machines can range from the minimum of 100 to the maximum of 250 machines per license and per operator.
Tere are now 100 route operators with licenses approved by the Gaming Commission. Licenses are granted once the operators comply with the acquisition of machines
Now part of Fairmont Hotels & Resorts the new casino will add a $12.5m investment in addition to a recently completed renovation for the hotel. Te 15,000sq.ft casino Foxwoods El San Juan Casino is anticipated to generate an estimated economic impact of $22m back to the island annually. Te casino officially opened to the public in November.
Meanwhile work on Te Camarero Racetrack is nearly complete. Te track sustained serious damage after it was hit by Hurricane Maria. Costing around US$15m the renovated track is now part of a much larger facility that will see a more diverse gaming offer in the future including slots.
2
Brazil Always on the brink
Brazil could be on the verge of making the most significant changes to its gambling laws for decades. While the federal government still wavers over gambling legislation significant progress is being made on a state level.
Te background is complex as the federal government, state governments and Brazil’s Supreme Court are all having their say on how the gambling industry should
WIRE / PULSE / INSIGHT / REPORTS P27
be regulated, but it is state governments eager to capitalise on a supreme court decision that are taking the initiative.
Sports betting has been approved, but has not yet been regulated. Online and land-based sports betting was permitted by the federal government in December 2018 via Law No. 13,758/18. In this law sports betting was categorised as a lottery.
In September 2020, the Supreme Court of Brazil ruled that the federal government's lottery monopoly was unconstitutional, paving the way for states to develop state lotteries for each of Brazil's 26 states and one federal district as long as they comply with federal regulations. Tis means that current operators can extend their offerings while states will begin to roll out their own lottery products within their own state borders.
Many states have issued requests for proposal (RFP) to identify qualified firms that would meet the
In September 2020, the Supreme Court of Brazil ruled that the federal
government's lottery monopoly was unconstitutional,
paving the way for states to develop state lotteries for each of Brazil's 26 states and one
federal district as long as they comply with federal
regulations. This means that current operators can extend their offerings while states will begin to roll out their own lottery products within their own state borders. Brazil
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