A bill that would legalise up to 35 casinos in Brazil cleared a committee vote this week.
The legislation would put a casino in every state, with up to three in the larger states. The legislation would also allow for online betting.
The move to legalise casino gambling comes as Brazil’s economy is on track to record one of its worst years over the past three decades. The economy is expected to contract 3.5 per cent, according to The Wall Street Journal.
Brazil thinks casinos could generate roughly $5.9bn a year in taxes, if there was a 30 per cent rate. The country banned them nearly 70 years ago. Brazil currently has a lottery and a horse betting industry.
The casino bill is now one step closer to a full Senate vote.
