Coronavirus pandemic has hit the economies of the world badly. Brazil is no different. The country is looking at a bleak economic future post COVID19 outbreak. In order to revive the economy, a massive effort is being pushed to legalize the casinos and gambling in the country. However, the authorities have faced the only setback so far.

Brazil President Jair Bolsonaro tried to make lotteries as the essential businesses during the COVID19 lockdown. However, the decision was challenged and a federal judge stopped the initiative. However, Brazil is determined to find a way and thus has come up with a new approach to legalize the casinos.

Paulo Guedes, Economy Minister, and Bolsonaro have approved a measure last week that could ease the way of casinos in Brazil. A new Investment Partnership Program (PPI) has been established. The purpose of the program is to boost the tourism sector through private investment. However, the casinos could see the light with government approval through this establishment. However, it is easier said than done.

As per the rules, PPI is going to be managed by the government committee which would also comprise of tourism officials. However, it is said that these officials are quite keen to legalize gambling in the country. As per the Games Magazine Brazil, the committee is going to recommend legalizing gambling to attract multimillion-dollar investments and thousands of jobs.

The government wants to create a new alliance with PPI to develop investment companies in Brazil. This would expand the cultural and civic assets tagged to the tourism industry. Also, the committee is going to meet each other in every other week to achieve widespread success. The legalization and regulation of gambling are high on the agenda of the committee as well.

The committee comprises members from different sectors such as Special Secretariat of the Investment Association Program of the Ministry of Economy, the Civil House of the Presidency of the Republic, and the Secretariat of Evaluation of Public Policies, Planning, Energy and Lotteries of the Ministry of Economy.

Federal Deputy Pompeo de Mattos has thrown his weight behind any decision that would help the economy recover. He said that the casinos would generate tax, which is income for the government, and help the economy to recover. He said that this move would create jobs and give an alternative to building the economy. He further said that some of the locations would be suitable for the casinos, and some for bingo and few for machines as well. It all depends on the locations, he said.

This move would not only help the tourism sector, but also help the gamblers to move away from the black market and corrupt practices.

Source: https://calvinayre.com/2020/05/20/casino/brazils-casino-prospects-may-have-just-gotten-a-boost/

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