Lula signals willingness to end betting as Brazil sector warns of losses
Brazilian betting and online casino representatives voiced concern after President Luiz Inácio Lula da Silva said he was personally willing to end gambling, according to the report. No government measure or publication timetable had been set; industry representatives said online casinos account for about 70% of betting-sector revenue.
Operators and investors face uncertainty because Brazil’s president expressed willingness to end gambling, without a measure or timetable.