Tag Archives: BNDES

Bolsonaro approves GGR tax modification for Brazil’s inbound sports betting regime

SBC News Bolsonaro approves GGR tax modification for Brazil's inbound sports betting regime

Brazilian President Jair Bolsonaro has signed into law a federal decree that regulates tax regimes for a number of industries, including Brazil’s yet to be launched sports betting regime.   Signed as Law No. 14,183, the order was included in the Official Gazette of Thursday 15 July. The decree’s mandate stems from the ‘Provisional Measure 1,034/2021’ previously approved by the Plenary …

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Brazil appoints agencies to accelerate Sports Betting launch

SBC News Brazil appoints agencies to accelerate Sports Betting launch

Brazil has moved forward with its plans to establish a regulated sports betting marketplace after the government appointed a designated agency to take charge of finalising the market’s legislative and regulatory frameworks. The publishing of this week’s federal gazette confirmed that President Jair Bolsonaro had signed ‘Decree 10,467’, appointing Brazilian social development bank BNDES to work alongside the Ministry of …

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Caixa chairman seeks to offload Brazil lottery assets by 2021

SBC News Caixa chairman seeks to offload Brazil lottery assets by 2021

Pedro Guimarães, the Chairman of Brazil’s federal bank – Caixa Economica Federal (Caixa), has stated that the government maintains its objective of ‘privatising five Caixa subsidiaries by 2021’. Guimarães made his statement to Brazilian business journal Metropoles, revealing that his office had identified Caixa ‘Loterias’ (lotteries), ‘Seguradora’ (insurance) and ‘Central’ (credit agency) as three divisions that will be privatised or …

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Brazil backs betting reforms for its pandemic recovery programme

SBC News Brazil backs betting reforms for its pandemic recovery programme

Brazil’s Council of the Investment Partnerships Program (CPPI) met last week with President Jair Bolsonaro and Economic Minister Paulo Guedes to discuss new projects to boost the nation’s economic recovery from COVID-19 impacts. The CPPI has decided to include sports betting in its  ‘PPI recovery program’, with the aim of creating new jobs and mitigate the negative consequences caused by the pandemic. According to BNL Data, …

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IGT & Scientific Games consortium secures Brazil’s LOTEX tender

SBC News IGT & Scientific Games consortium secures Brazil's LOTEX tender

Following seven failed attempts to sanction an effective tender process, BNDES – Brazil’s national development bank – has confirmed the sale of state-owned instant win games (scratchcard) operator LOTEX to ‘Consórcio Estrela Instantânea’ – a 50/50 joint venture consortium formed by IGT and Scientific Games Corporation (SGC). The IGT-SGC vehicle secures a 15-year concession, having been the only entity to bid …

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Brazil redrafts LOTEX sale lowering tender expectations

SBC News Brazil redrafts LOTEX sale lowering tender expectations

Having failed five times to sanction the sale of state-owned instant win (scratch card) operator LOTEX, the Brazilian government has drafted new tender documents and concession criteria as it re-establishes efforts to sell the state asset. Announced last week, Brazil’s Ministry of Finance has launched a new tender submission deadline, open until 17 October, with LOTEX’s official auction scheduled for …

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Brazil calls for a rethink on LOTEX’s future

SBC News Brazil calls for a rethink on LOTEX's future

The government of Brazil is reported to be ‘assessing its options’ with regards to the sale of state-owned Instant Win (Scratch Card) operator LOTEX – following six straight tender postponements. A reported ‘lack of interest’, would see BNDES, Brazil’s National Development Bank twice suspend this May’s planned tender procedure. BNDES, the agency charged with selling LOTEX, has come under fire …

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BNDES LOTEX blunders weighing heavy on Brazil government

SBC News BNDES LOTEX blunders weighing heavy on Brazil government

Despite a new government in charge of Brazil, the planned sale of state-owned instant win (scratch) operator LOTEX continues to blunder on. Closing April, BNDES – Brazil’s national development bank, the organisation charged with selling the state asset – issued its fifth straight postponement of the LOTEX tender. It has now extended its window for bid proposals until 9 May. BNDES …

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BNDES issues fourth postponement of LOTEX Brazil sale

SBC News BNDES issues fourth postponement of LOTEX Brazil sale

BNDES – Brazil’s national development bank has sanctioned its fourth postponement of the sale of state-owned instant win (scratch card) operator LOTEX. Last week, an under pressure BNDES issued a corporate communication informing the media and stakeholders that its scheduled Tuesday 26 March auction of LOTEX enterprise had been cancelled. In its update, BNDES governance informs that the LOTEX auction …

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BNDES aims to complete LOTEX Brazil sale by February 2019

SBC News BNDES aims to complete LOTEX Brazil sale by February 2019

BNDES – Brazil’s national development bank has further postponed the tender process for its agreed sale of LOTEX, the state-owned operator of instant win (scratch) games. The sale of LOTEX had received its original government approval on August 2017, allowing BNDES to begin the tender process for 2018, which was reported to be seeking a minimum of BRL 4 billion …

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