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Brazil to create a new entity regulatory entity

Published

6 years ago

November 28, 2018

Niji Narayan

Brazil to create a new entity regulatory entity

Photo Source: aljazeera.com

Reading Time: < 1 minute

Brazil’s Chamber of Deputies has issued a provisional approval to create a new lottery organisation for regulating online gambling business and land-based sports betting.

The new entity will regulate the industry and distribute all of the gaming taxes income to the National Public Security Fund. The new move is expected to generate an income of US$1bn.

The move requires the approval of the Senate, which is expected to come before the start of Online Gaming Summit, scheduled Sao Paulo from December 3-4.

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Niji Narayan

Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.