As measures to bring regulated online and land-based gaming to Brazil continue to wind their way through the legislative process, the man behind the nation’s largest state-owned bank has reportedly asked that his organization be tasked with serving as an official regulatory body.
According to a report from G3Newswire, Gilberto Occhi (pictured), Chairman for Caixa Economica Federal, explained that he had already held discussions with Senators Fernando Bezerra Coelho and Ciro Nogueira as they were instrumental in developing proposed gambling legislation currently under consideration by the Federal Senate’s Constitution, Justice and Citizenship Committee.
Caixa Economica Federal also manages Brazil’s Loteca, Mega-Sena and Quina lotteries while Occhi reportedly estimated that legalized gambling could generate approximately $6.1 billion in annual revenues with the majority of these coming from online activities.
“The country does not have a gaming regulatory agency and Caixa [Economica Federal] is today an agency that has credibility and respect,” Occhi reportedly told reporters during a November 13 ceremony held at the nation’s Planalto Palace. “You’re going to need payment participation, surveillance and monitoring. We are the only institution authorized to promote games in Brazil [and] our request to parliamentarians is that we can participate in this management.”
G3Newswire reported that Occhi further supported his plea by declaring that Caixa Economica Federal already has a well-developed lottery sales network in place covering the entire length and breadth of Brazil. It currently manages approximately 35,000 retail outlets including 13,251 lottery shops that moreover offer citizens the ability to collect benefit checks and carry out basic banking services.