Brazil’s largest state-owned bank and lottery operator, Caixa Econômica Federal (Caixa) reportedly wants to act as the supervisory body for both land-based and online gambling in the country.
Caixa’s president, Gilberto Occhi has stated that the legalisation of gaming could generate around R$20bn ($6.1bn) per year, with online gaming possessing the potential to generate the largest revenues.
“The country does not have a gaming regulatory agency and Caixa is today an agency that has credibility and respect,” he told reporters.
According to Occhi, members of Caixa have already discussed the issue with senators Ciro Nogueira and Fernando Bezerra, both key players in developing new gaming legislation which is under consideration in the Senate’s Committee on Constitution, Justice and Citizenship (CCJ).
“You’re going to need payment participation, surveillance and monitoring,” Occhi continued.
“We are the only institution authorised to promote games in Brazil, our request to parliamentarians is that we can participate in this management.”
He added that he did not expect Caixa to be the supervisory body for all aspects of the industry but that it would handle payment processing.
The bank is well placed to oversee the industry given its extensive lottery sales network which encompasses the entire territory, with 35,000 service outlets nationwide including 13,251 lottery shops.