The major North American companies have projects in their portfolios to advance new business developments should Bill 2.234/22 be approved.
Brazil.- Las Vegas casinos MGM Grand and Caesars Palace are close to obtaining a license to operate in the online betting sector in Brazil. Additionally, Hard Rock Café is looking for opportunities to enter the Brazilian market. This landing in the recently regulated Brazilian online betting market, is the spearhead for these companies to expand their operations in case the Bill 2.234/22, which regulates land-based gambling and casinos, is approved in the Senate.
For this reason, the multinational gaming companies seek to land in Brazil first with online gaming to start getting accustomed to the dynamics of the Brazilian market, which is noted for being one of the only ones in the world to have regulated online betting before traditional gambling.
The three companies, however, have plans in their portfolios to join land-based gaming should Bill 2.234/22 be approved by the Legislative Power.
Caesars Palace already has a Loterj license to operate betting in Rio, currently building its headquarters in Americana, in the interior of São Paulo. It already has 28 direct employees and the projection is to reach 100 to continue expanding its operations. "For us, physical gaming, if regulated in Brazil, is a natural path we will follow to also request a license," stated the president of Caesars Sportsbook in Brazil, André Feldman.
On the other hand, the vice president of Hard Rock Café for Latin America, Alex Pariente, who has already held meetings with the Treasury, expects a stabilization of the Brazilian legal scenario before announcing his plans. "We are evaluating all the possibilities of the market. It would be gratifying to bring our brand to this sector also when the opportunity arises."
As for MGM Resorts, it has already invested R$ 54.25m (USD 9.9m) in the venture it will launch with Grupo Globo, BetMGM. In a LinkedIn post, the group's CEO, Bill Hornbuckle, wrote that the company intends to bring the "authentic Las Vegas betting experience to Brazil" if progress is made in the sanctioning of a new regulatory framework that allows it.
Already approved in the Chamber of Deputies, the bill is now in the Senate, where its treatment was sought in September, an idea that failed and now there is an effort to accelerate negotiations to bring the project to a vote in the chamber as soon as possible.
The text of the law authorizes the installation of casinos in tourist hubs or in integrated leisure complexes, with a limit of one casino per state and in the Federal District, with the exception of São Paulo, which could have up to three casinos, and of Minas Gerais, Rio de Janeiro, Amazonas, and Pará, in which the limit set for each state is two casinos.
According to the proposal, gaming rooms can also operate on maritime and river vessels, which will follow specific rules. The casino must demonstrate a minimum integrated social capital of at least R$ 100m (USD 19m) and can be accredited for 30 years.
See also: The Brazilian Minister of Tourism once again expressed his support for the regulation of casinos and gambling
The proposal also sets rules for bingo games in cardboard and electronic modalities, and allows in each state the accreditation of a legal entity for every 700,000 inhabitants for the exploitation of the "jogo do bicho."
