Legalizing casino resorts could bring Brazil $40 billion

Brazilian Senator Irajá Silvestre Filho predicts that the country could generate 40 billion reais (approximately $6.5 billion) in revenue if casino resorts are legalized. He shared this insight in an interview with the local economic, financial, and business publication Valor Econômico.
Filho is the rapporteur for the bill aimed at legalizing casinos and bingo. According to him, the initiative has the backing of the ministries of Sports and Finance, although the latter has never publicly stated its support. However, Filho noted that Finance Minister Fernando Haddad is one of the main advocates for legalizing the gambling industry. In private conversations, Haddad has expressed his support, recognizing the potential benefits this initiative could bring to the country.
The senator also stated that the tourism sector stands to gain from a doubling of visitor numbers over the next eight years following the law's enactment. He identified Tourism Minister Celso Sabino as another strong proponent of casino legalization.
On June 12, the bill was sent for a second vote in the Senate's Committee on Constitution and Justice. If successful, the previously approved text from the Chamber of Deputies will be forwarded to the president for approval.
Sabino has already met with foreign investors interested in building gaming resorts in various regions of the country. The minister anticipates not only an increase in tourist traffic but also multi-billion-dollar investments from abroad, along with the creation of thousands of new jobs.
It is worth noting that the bill to legalize land-based casinos in Brazil has been submitted to the Senate for consideration.