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Wednesday, February 7, 2018

Las Vegas Sands Official Recommends Integrated Resort Model for Brazil’s Future Gambling Industry

Casino News Daily
Las Vegas Sands Official Recommends Integrated Resort Model for Brazil’s Future Gambling Industry

Major casino operator Las Vegas Sands has been lobbying for the legalization of gambling in Brazil in a manner similar to other jurisdictions the company has been operating in, including Las Vegas, Macau, and Singapore.

Here it is important to note that in Las Vegas, Macau, and Singapore gambling facilities are mostly operated as part of larger multi-purpose complexes that also feature convention and exhibition venues as well as different other facilities. And it can be said that it was namely Las Vegas Sands that introduced and popularized the integrated resort model and that it has proved particularly profitable for the company over the years.

Talking to Brazilian media, Andy Abboud, Senior Vice President of Government Relations at Las Vegas Sands, said that the country’s lawmakers should explore the gambling regulatory regimes in the above-mentioned jurisdictions and potentially craft a similar legislative framework.

The gambling official further noted that the legalization of a limited number of gambling options could be the best approach for Brazil. Generally speaking, Mr. Abboud recommended the legalization of land-based casino gambling, which would allow for the construction of integrated resorts in the country.

According to the Las Vegas Sands official, Brazil could undertake gambling expansion that would open the market for additional types of services at a later stage.

Here it is important to note that Las Vegas Sands’ CEO and President, Sheldon Adelson, is one of the staunchest opponents of the legalization of online gambling across the United States. It is believed that the casino executive has been among the people behind the Restoration of America’s Wire Act initiative, which generally calls for a nationwide ban on Internet gambling in the US.

Gambling in Brazil

With very few exceptions, gambling is illegal in Brazil under the country’s somewhat obsolete gambling laws. Lawmakers have been discussing certain reforms in the way both land-based and online gambling services are provided. Discussions have included the legalization of land-based casinos, online casino games and sports betting, bingo, and even the lottery-like jogo do bicho game, which has been particularly popular in Brazil for decades now. However, lawmakers have so far failed to adopt any related legislation.

If Brazil decides to regulate its market in a manner that includes different types of gambling services, this would be the exact opposite approach of what Las Vegas Sands is advocating for.

It was last year when reports emerged that the Las Vegas casino giant was interested in building an integrated resort in Brazil, preferably in Rio de Janeiro. Local media also reported that Mr. Adelson had met with Brazilian President Michel Temer and had pitched an $8-billion development project to the South American country’s top official.

In its recent conversation with local media, Mr. Abboud did not confirm Rio de Janeiro as his company’s preferred location, but pointed out that they would seek to build a casino resort in a bigger city with considerable flow of international tourists.

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