The senior executive of the American casino group Las Vegas Sands commented in an interview to Gambling Compliance that O Globo Group changed its position regarding the legalization of gaming in Brazil. According to Andy Abboud, the influence and support of the country's largest media conglomerate to integrated resorts, changes the dynamics of the legalization process and gives new hope to investors.
"O Globo is equivalent to what Disney is in Florida. And Globo is with the integrated resorts, I believe, that significantly changes the dynamics because they are very influential," Andy Abboud told Gambling Compliance.
The change mentioned by the executive was disclosed in an editorial published on March 21 in the newspaper O Globo of Rio de Janeiro, where Grupo Globo officially stated that the ban is no longer viable in the digital age and that the only way to exercise control activity is to formalize it.
Andy Abboud has personally participated in the work of the Las Vegas Sands Group for the legalization of gaming in the country. On January 16, he participated in a meeting with the president of the Chamber of Deputies, Rodrigo Maia, and members of the Brazil-US Chamber of Commerce, where he told the legislature that the company and other large American companies are ready to invest "billions" in casinos in the Brazil.
Shortly afterwards, on February 28, Abboud met with the Secretary for Fiscal, Energy and Lottery Follow-up, Mansueto Almeida, at a meeting requested by the international group on the agenda of “Gaming legalization in integrated resort complexes.” Lowenthal and an economist at the Getúlio Vargas Foundation.
According to Gambling Compliance, the executive said that Brazil is one of the priorities of the Sands group and that he trusts that the activity can be legalized, leverage mainly the tourism of the country and that he receives good answers of the work accomplished.
"If we were not encouraged by the feedback we're getting from lawmakers, frankly, we would not be there working as hard as we are. As long as they legalize integrated resorts ... and be a rigorous regulatory framework, we'll probably be able to live with whatever they approve, "he said.
Andy Abboud also told Gambling Compliance that in addition to Brazil, the Sands group is studying and working to invest in Japan's future regulated market and also to increase its presence with new ventures in the United States.
Source: GMB / Gambling Compliance
