⭐Best Online Casinos For 2019⭐
⭐Best Online Casinos For 2019⭐
Bitcoin Casino
Visit Bitcoin Casino
Roaring21 Casino
Visit Roaring21 Casino
CasinoMax Casino
Visit CasinoMax Casino
Cherry Jackpot Casino
Visit Cherry Jackpot Casino
Scientific Games and IGT To Enter The Brazilian Lottery Market
Scientific Games and IGT To Enter The Brazilian Lottery Market
America

Scientific Games and IGT To Enter The Brazilian Lottery Market

Gaming content and lottery services provider, Scientific Games and UK-based IGT have secured a deal to offer instant lottery services in Brazil. The two companies will jointly pay a total of $200 million for 15-year lottery deal.

The two companies are also required to pay a 17 percent tax on gross winnings.

In a joint statement, commenting on the development, both IGT and Scientific games said that “The award of the Brazilian LOTEX concession represents an important step towards the privatization of lottery instant games in Brazil, the world’s eighth-largest economy.

We are excited and honored by this opportunity for IGT and Scientific Games to help define the evolution of instant lottery in Brazil through a 50-50 joint venture over the next 15 years. This business partnership will benefit the people and the government of Brazil.”

Brazil had long been working on the privatization of instant lottery in the country. It is also working on expansion of gambling in the country.

Earlier in the year, in its bid to not miss on the legalized betting market in Brazil, making early arrangements, online gambling operator Betfair announced a partnership deal with the South American Football Confederation (CONMEBOL).

Following the deal, Betfair CONMEBOL’s official partner. While gambling is yet to be fully legalized in the Latin American country, some forms of sports betting are legalized.

As per the partnership deal, Betfair will now be able to display its logo in advertisements at stadiums, as well as through broadcast and social media channels.

About the author

Harry Matthew

Harry Matthew

Harry serves as a resident reporter for Casino Buzz. He has been responsible for building the content base and forms the core reporting strategies for the website. Along with reporting, Harry is an amazing baseball player with good record at university level. He can be reached at [email protected]

Add Comment

Click here to post a comment