Brazil could become world's third largest gambling market if law authorizing casinos, bingos approved

If bill 2.234/22, which authorizes casinos, bingos, gambling, and horse racing, is approved by the full Senate and sanctioned, Brazil could become the third-largest gambling market in the world.

The forecast comes from the Federation of Hotels, Restaurants, and Bars of the State of São Paulo (Fhoresp), which estimates investments of more than BRL 382 billion ($69,649,678,000) in this segment, according to the portal Pan Rotas.

Even before the bill was approved by the Senate's [Constitution, Justice, and Citizenship Commission] CCJ, 56 foreign companies visited Brazil to evaluate sites for future operations - a number that will increase if the initiative is sanctioned.

The bill foresees the installation of three types of casino: integrated in tourist complexes, a model inspired by those already existing in Las Vegas (USA) and Singapore; smaller tourist casinos, similar to those in Punta del Este (Uruguay); and bingos in cities with more than 150,000 inhabitants.

Each state will have the right to authorize a certain number of resort-integrated casino establishments, depending on its population. São Paulo, for example, may have up to three casinos integrated into tourist complexes, while Rio de Janeiro and Minas Gerais will have two each since each state has more than 20 million inhabitants. The other federative units may have one establishment in the sector.