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A bill put forward by


Deputy Eduardo Bismarck PL 5319/2019 sought to amend the Act, to


authorise gambling in


leisure resorts and hotels authorised by the Federal Executive Branch. Te text presented by the


congressman directly


changes the text of article 50 and would lift the gambling ban.


THE CRIMINAL CONTRAVENTION ACT


A number of attempts have been made to overturn Article 50 of the Criminal Contravention Act both in the courts and in Congress. Tis would in effect end the state’s monopoly over gambling.


broadcasting company EBC. In February 2019 President of the CAIXA Pedro Guimarães, announced that the bank intended to sell all of the assets that are not part of the bank's main activity. According to Guimarães, four subsidiaries of the bank would be sold in the areas of lotteries, insurance, cards and asset management. Caixa is now aiming to raise approximately $917m by divesting part of its stake in an IPO of insurance holding Caixa Seguridade - the insurance unit of the bank.


In November 2019, a bill put forward by Deputy Eduardo Bismarck PL 5319/2019 sought to amend the Act, to authorise gambling in leisure resorts and hotels authorised by the Federal Executive Branch. Te text presented by the congressman directly changes the text of article 50 and would lift the gambling ban for "leisure resorts and casino hotels authorised by a regulatory body designated by the Federal Executive Power."


In his justification for changes to the law, Bismarck argued that gambling in Brazil is


widely practiced, and the fact that it is illegal does not prevent the activity from occurring. As a result, Brazilians would have a safe regulated space in order to gamble if current rules were changed. In addition, regulating the industry would be beneficial to society as it would raise much needed income for the government.


In March 2020, Deputy João Carlos Bacelar Batista, a long time supporter of a liberalised market, put forward an amendment to


WIRE / PULSE / INSIGHT / REPORTS P73


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