Brazil to create a new entity regulatory entity
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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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