The annual Rio de Janeiro Carnival is the largest festival in the world and immediately conjures images of street parties and colorful costumes when mentioned. That has led to Rio becoming a popular subject of a number of slot machines at land-based and online casinos around the world, despite the fact that the area isn’t a hot spot for gambling. However, that is changing and Brazil is quickly embracing new gambling options. Rio de Janeiro is the latest to be putting together its framework for new sports gambling and lottery options and is now looking for new gaming operators to help the market grow.
Rio de Janeiro’s Lottery Needs a Few Good Operators
The Loteria do Estado do Rio de Janeiro (Loterj), the Brazilian state’s official lottery operator, published an announcement in Rio’s Official Gazette recently, requesting feedback from interested parties who want to get involved with the state’s new gambling options. The organization is looking for operators that can offer physical and online gaming options and must show a proven track record in their respective fields, sports gambling or lotteries, or both.
Introducing sportsbooks to Brazil is something that has been in the works for the past couple of years, but which only recently found enough support from the government. It’s expected that the final regulations will be in place within the next two or three months, and Rio wants to make sure it’s ready to go as soon as possible. The Loterj will 7BALL review the applications it receives and begin to make its selections, with chosen operators required to purchase a 60-month license for around $50 million.
Rio Follows Right Behind Minas Gerais
Minas Gerais recently introduced its plans for gambling expansion in the state. The Loteria Mineria announced a couple of weeks ago that it is going to introduce new options, including fixed-odds sports gambling. It is in the process of selecting a technology partner provider, with International Gaming Technology Brasil Data Services (IGT) – Scientific Games Brasil Ltda, Intralot do Brasil Trade in Equipment and Computer Programs Ltda and Thorsborg do Brasil Consultoria em Tecnología Ltda having submitted their candidacy. Intralot recently sold its stake in its Brazilian arm to Saga, which now owns 100% of the company.
There has been a lot of attention from the international gaming industry to get involved with Brazil’s nascent market and Rio de Janeiro is ready to capitalize on its fame to become an even more well-known destination. The state is the third-most populous in Brazil, behind Sao Paulo and Minas Gerais, but the top destination for international tourism.
