Reports BRAZIL MARKET
It is believed that that the Ministry of economy is looking at international regulatory models to understand what framework would be best suited to Brazil and the government could propose a preliminary version of sports betting regulation before the end of the year. Te Secretariat of Evaluation, Planning, Energy and Lottery (SECAP), which comes under Brazil’s Ministry of Finance, launched a public consultation in July in order to collect suggestions regarding the regulation of sports betting.
Feliciano said that if the government insisted on pressing the issue, then that base would crumble.
GROWING INTERNATIONAL INTEREST
It is no surprise that international interest is high. Brazil has the biggest population of all the countries in South America.
In October, Co-Chairperson and Executive Director of gaming operator MGM China Holdings Ltd, Pansy Ho Chiu King, said that if Brazil gives gaming the green light then a number of international investors would be willing to get on board.
“I’m quite sure that Brazil, a major country and one of the largest economies in Latin America and in the world, if it was to consider opening up and to invite other gaming operators to come and develop the same kind of integrated resorts that Macau has expertise in, I’m sure there will be some of the existing gaming operators or even from other parts of the world, that would be clearly interested,” she said.
In October, the Brazilian Minister for Tourism, Marcelo Álvaro António, met with Melco Resorts and Entertainment Group CEO, Lawrence Ho Yau Lung, and CEO, Larry Ng, in Macau in order to present the potential of Brazilian tourism. Te group is open to working together with the Ministry of Tourism in the development of strategic plans.
In addition, Sheldon Adelson also reported that he and his competitors have an interest in investing in Brazil as they did in Asia. Te value of the investment could reach up to US$15bn. Sheldon Adelson has been in Brazil on a number of occasions to discuss the establishment of integrated resorts in Brazil. In May 2017, it was reported that Adelson met with then Brazilian President, Michel Temer, and several government officials to pitch an $8bn casino project in Rio de Janeiro.
P48 NEWSWIRE / INTERACTIVE / MARKET DATA
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