Potential Brazilian gaming market would be US$ 19.3 billion per year

The importance of the legalization of casinos for Brazilian tourism and the regulation of the collaborative economy were topics discussed by federal deputy Herculano Passos (PSD-SP), in the "Regulation of the Sector” panel, held at the 59th Congresso Nacional de Hotéis 2017 ( Conotel).

At the event, sponsored by the Brazilian Association of Hotel Industry (ABIH Nacional), the deputy -who is president of the Joint Parliamentary Front in Defense of Tourism (FrenTur)- spoke about the positive impact that the economy of the country would have with the opening of casinos. "The potential of the gaming market is 1% of the country's Gross Domestic Product. In 2016, our GDP was US$ 1.92 trillion, thus, the annual market potential would be US$ 19.3 billion. The average global taxation of the game is 30%, which would give Brazil an annual revenue of US$ 5.8 billion in taxes with this sector, not counting the grants and fees," said Herculano.

The parliamentarian also drew attention to the volume of money handled by the illegal gambling. "Illegal betting moves twice as much money as legal bets like lotteries and turf. Only the local popular jogo do bicho moves about US$ 3.67 billion a year. Already, about 300 clandestine bingos, move $ 1.3 billion, slot machines spin in the economy of illegal gambling US$ 3.97 billion and online gambling, which is also prohibited, raises US$ 910 million annually. In all, illegal betting moves close to US$ 6.1 billion in Brazil."

The lack of a regulatory framework for gambling, especially casinos, also causes tourism to lose. Brazil receives about six million foreign tourists a year, while Las Vegas, which has its main economic factor in gaming, receives more than 40 million visitors a year, and Macao more than 30 million. "We are the first country in the world in natural beauty, we have an extremely welcoming people and most of the foreigners who visit us say that they would come back here. If, moreover, we have casinos like Las Vegas, we can emerge as one of the great tourist destinations in the world, "defended the deputy.

According to estimates by the Tourism Council of the National Confederation of Commerce, Goods, Services and Tourism (CNC), the hotel sector would also benefit from the legalization of casinos. According to data, the Brazilian hotel of 4 and 5 stars employs between 0.6 and 1 an employee. In a hotel-casino, that average goes up to 3.2. In addition to increasing job vacancies in the industry, the gaming sector in Brazil has the potential to create about 85 new functions / professions.

During the Conotel, Herculano also highlighted that the regulation of the collaborative economy is one of its priority work guidelines. He is the author of the application for the creation of a Special Commission of the Regulatory Framework of the Collaborative Economy, in the Federal Chamber. "We are dealing with the novelty. Nobody knows very well what can and can not be done, and what we want is to delimit rights and duties. We are going to listen to the various segments, welcome suggestions, look for international examples that worked and, from that collegiate, a bill should come out with regulations that are beneficial to companies, consumers and the country," he concluded.

Source: GMB