Speaking to Portal Poder 360, Federal Representative Newton Cardoso Jr. (MDB-MG) stated during BiS Brasília that regulating gambling and casinos is essential to raising funds without raising taxes. BiS Brasília, an event focused on the online gambling market, took place in Brasília on October 21st and 22nd.
According to Newton Cardoso Jr., the issue of tax collection needs to be viewed differently. “In the case of the bill authorizing physical casinos, we ended up reversing roles. We voted first on online casinos and gaming. The lack of regulation under the previous administration allowed many gambling establishments to proliferate in Brazil, many of which contributed to no tax revenue.”
“Regulation allowed us to understand the scale of the activity, and companies licensed to operate in Brazil could legally operate their businesses in the country,” he said.
