It was approved this Wednesday (19) by the Chamber of Deputies the legal framework for the electronic games and fantasy games industry. The Brazilian Association of Fantasy Sports (ABFS) celebrates the approval of the article and highlights that it was a victory that demonstrates recognition for a sector that today generates taxes, jobs and an annual revenue of almost R$ 70 million (US$ 13.3m) Brazil.
The entity estimates that the sector could reach R$ 100 billion (US$ 19b) in revenue in the next few years, with an estimate of tens of thousands of direct and indirect jobs.
“We congratulate the Chamber for understanding that we are a structured and consolidated sector as an economic activity, with great potential for growth. We are sure that the regulation brought about by the legal framework will increase investments in our segment, which has always wanted to operate within an environment with legal certainty,” said Rafael Marchetti Marcondes, president of ABFS.
The director explains that at first the text made references only to console and PC games, leaving aside those of the software available in applications that can be downloaded on cell phone devices, and games that run directly via the web.
“Parliament understood that it made no sense not to bring into the legal framework one of the most relevant aspects in terms of the number of players,” explained Marcondes.
One of the largest companies in the sector, Rei do Pitaco, also celebrated the Chamber's decision. “Having fantasy fames regulated is important for us and for our clients, as it brings a safe environment, in which it is recognized that the skill of each player will impact the final performance,” said the lawyer of regulation and governmental affairs of Rei do Pitaco, Barbara Teles.
“Electronic games are one of the fastest growing segments of the entertainment industry today,” highlighted the author of the proposal, deputy Kim Kataguiri (União-SP). “We are talking about generating employment and income with an industry of the present, since Brazil is the 13th market in the world,” he said.
For Kataguiri, the project seeks to guarantee the development of the games sector, generate jobs, reduce crimes such as ‘descaminho’ (imports without payment of taxes) and reduce the tax burden on the development of electronic games with the extension of the benefits of the Information Technology Law.
Source: GMB
