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Lula orders Caixa to suspend its planned betting launch in Brazil

Licences & markets

Brazilian President Luiz Inácio Lula da Silva ordered state-owned Caixa Econômica Federal to suspend plans for its own betting operation, according to people familiar with the matter. The project could be cancelled, although Caixa representatives said no final decision had been made and were working to advance it. Caixa paid R$30 million for a provisional authorisation to operate online betting and other games.

The order puts Caixa’s planned betting operation in doubt despite its provisional authorisation.

Earlier licence decisions by Ministry of Finance

DateCompanyAmountStoryAppeal status
CaixaNot statedLula seeks meeting with Caixa chief over planned sports betting platformNot stated
Not namedVND 51,500,000,000,000Vietnam finance ministry seeks approval for $2.16bn Van Don casino resortNot stated
Blaze, Foggo EntertainmentNot statedBlaze says Brazil grants Foggo Entertainment a definitive federal licenceNot stated

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Regulation

Lula orders Brazil’s regulated betting market to close from 6 October

Brazilian President Luiz Inácio Lula da Silva ordered a halt to fixed-odds betting through a provisional measure, with authorised operators’ sites and apps due to cease activity on 6 October. Players can request withdrawals until 5 October; operators must consolidate identified customer balances on 7 and 8 October and return remaining funds through banks and financial intermediaries between 9 and 14 October. The measure excludes compensation for lost profits and investments, according to the report.

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