Brazil Special Senate Committee Recommends Legalizing Gambling

Brazil Special Senate Committee Recommends Legalizing Gambling

Brazil President Rousseff is facing impeachment as her country falls into economic despair, but gambling could arrived at her rescue.

Brazil is once again mulling gambling legalization, lawmakers in the cash-strapped country within the midst of economic devastation scrambling to find ways to invest in the government without putting extra tariffs on residents.

The Brazilian Senate Commission for Regional Development and Tourism voted this week in favor of Bill 186 of 2014, legislation that would authorize up to 35 land-based casinos and invite gambling enterprises to commence operations online.

Casinos are prohibited in the national country since 1946.

Illegal gambling in Brazil is estimated to be a nearly $5 billion industry that is annual and legislators affirm tapping into that market becomes necessary to offset a dismal monetary year for the country. Moody Investors Service recently downgraded Brazil to ‘Junk Status’ citing a rapidly deteriorating economy and ‘worsening governability.’

Public Advice

Legalizing gambling and online casinos seems to be considered a viable solution to make up at part that is least of the mounting budget deficit. Persuading residents to get behind gambling might be a more difficult task than in other countries.

Brazilians gambling that is associate corruption, many believing the venues to be nothing a lot more than resources from criminal syndicates to meet and exchange monies.

‘ You Continue reading “Brazil Special Senate Committee Recommends Legalizing Gambling”

Nj iGaming: Do Falling Profits Give Cause for Pause for Online’s Future in the Garden State?

Nj iGaming: Do Falling Profits Give Cause for Pause for Online’s Future in the Garden State?

Nj-new jersey iGaming is struggling, despite initially dazzling projections from hawaii’s Governor Chris Christie.

Is brand New Jersey iGaming in trouble? That’s the stressing question many individuals are now asking following the latest round of financial reports.

The first piece of news to rock the gaming industry in the Garden State had been that Atlantic City’s brick-and-mortar venues had experienced a profit drop that is year-on-year.

Comparing 2014’s October take to 2015’s figures, the resort town’s network of live casinos made $197.7 million in the former, compared to $191.6 million in the latter.

This disparity represented a 3.1 percent decline and a prospective indication that the town isn’t that great regeneration many had envisioned.

Poker’s Poor Performance

Including to this disappointment had been the revelation that online poker additionally hit a stumbling block in October.

Looking specifically at those numbers, 2015 was a month that returned 8 percent more money than the state’s operators generated in September 2015 ($1,913,403 vs. $1,771,123) october.

Nevertheless, while this news was a confident, it had been tinged with another wave of disappointment after it became clear that the latest thirty days of operation represented a 2.8 percent year-on-year drop.

In 2014, New Jersey’s collective of online poker sites banked $1,967,905 october. In contrast, 2015’s combined re Continue reading “Nj iGaming: Do Falling Profits Give Cause for Pause for Online’s Future in the Garden State?”