Zona de Azar Brazil – Brazil: Project Proposes at Least One Resort in Every State

Brazil – August 29, 2024 www.zonadeazar.com Last Tuesday, August 27th, the Minister of Tourism, Celso Sabino, made an important statement about the benefits that resorts with casinos will bring to Brazil. Confident that the Senate will approve the proposal soon, Sabino highlighted the importance of the measure for the tourism sector and the national economy.

“Like any major economic activity that will mobilize large investments, we will have job creation during both the implementation phase and execution. Our perspective is the generation of around 600,000 to 1 million direct and indirect jobs when all integrated resorts are operational,” stated Sabino.

The statement was made during the seminar “Challenges of Betting and Casino Regulation,” organized by Editora Globo with the support of the Government of the State of Rio de Janeiro. Together with Senator Irajá, the rapporteur for the casino bill, Sabino discussed the proposed law that authorizes the installation of casinos in high-end resorts and also on ships.

Projection of Billion-Dollar Revenue Over the Next Three Years

The expectation surrounding the sports betting market for the next three years is for revenue exceeding R$100 billion. And the revenue collection will be crucial to boosting key areas of the country, such as tourism.

The revenue projection was carried out by the Federation of Hotels, Bars, and Restaurants of the State of São Paulo (Fhoresp) and the Institute of Development, Tourism, Culture, Sports, and Environment (IDT).

With the projection, it is estimated that in 2024 alone, the regulation of sports betting could boost more than 500 hotel ventures across the country.

According to the projection, of the R$100 billion in expected revenue between 2024 and 2026, around R$12 billion is expected to be collected in taxes. Thus, it is expected that 28% of this amount will be allocated to the tourism sector in the country.

Sabino also believes that lessons can be learned from the mistakes of others

“Brazil cannot continue to live in such an unfavorable environment, but it also cannot present itself in such a frenetic way. England has it, but most countries have not taken this care in terms of preventing and treating compulsive gambling,” concluded the Minister of Tourism.

Edited by: @_fonta
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