Innovation Group announces consortium in Brazil

The Innovation Group has announced it is developing a national gaming forecast model for Brazil, as well as the formation of a consortium to bring clients comprehensive gaming regulatory and development services in Brazil.

As its legislature prepares to vote on landmark gaming legislation as early as November, the consortium, which includes BetConsult and Federico Lannes IGC has been hard at work addressing regulatory parameters with government officials, and preparing analytical tools to estimate revenue potential and profitability under a wide range of bingo, casino, and potentially online gaming opportunities. The companies will participate jointly in leading key portions of the BgC 3 Gaming Conference slated for Brazil in November.

“With over 200 million inhabitants, Brazil is one of the largest untapped gaming markets in the world. Brazil’s most recent effort to address gaming represents the most ambitious since its prohibition 70 years ago,” said The Innovation Group in a press release.

According to the company, standing legislation would allow both destination casinos and bingo halls (similar to slot halls), and potentially online gaming opportunities. The Special Commission on National Development approved Bill 186 by a wide margin last December, and is currently negotiating revised versions from the Senate, under the hand of Senator Fernando Bezerra, and the Chamber of Representatives where a vote on Deputy Guilherme Mussi ‘s rewrite is expected to occur next week.