Brazil: Adelson considering USD 8B investment ahead of possible gambling legalization

Adelson has long spoken of Brazil, calling the country a “potentially very good opportunity,” although he expressed some reservations regarding the economy and called for infrastructure upgrades, including more 4- and 5-star hotels.

Before the meeting with Adelson, the mayor of Rio de Janeiro confirmed that the purpose of the meeting was "to bring investments to Rio", without mentioning the word casino.

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According to different local sources, the president of Las Vegas Sands plans to build a USD 8B megaproject.

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"The idea of ​​the US billionaire is to make a complex similar to those that operate in Macao, China, which includes from convention centers to shopping centers and generates more than 10,000 direct jobs," said one source related to the matter.

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Israel’s honorary consul in Rio, Osias Wurman, said the approval of the bill could make Brazil the third best market for the group, after Las Vegas and Macau.

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Congressman Elman Nascimento (DEM-BA), president of the special committee of the House, analyzed the context and clarified that if the game is legalized, the investment expectation is USD 25B.

Critics

The president of the Brazilian Legal Gaming Institute Magnho José warned that Sheldon's position on the other game modes could be a little controversial:

"All the players in the industry know that the mogul is critical of sports betting, online gaming and Of video bingos. He is interested in the fact that Singapore's model is imported, that is, that few casinos are freed and that the rest of the modalities are not legalized. "

In his online column at BNL Data, editor Magnho José said:

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The visit of the entrepreneur will relocate the issue in the media and take it to another level. In turn, legalization will place the game on the agenda of the Executive and Legislative.

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