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Innovation Group Expands in Brazil

Looking ahead to a vote in Brazil’s Congress later this year on a major expansion of the country’s gaming industry, U.S.-based Innovation Group is partnering with Brazil’s BetConsult and Federico Lannes IGC to offer a range of services to operators and investors looking to set up shop in South America’s largest country.

The group announced it is working with government officials on key issues such as regulation, and also is preparing analytical tools to estimate revenue potential and profitability under a wide range of bingo, casino and potentially online opportunities.

A lot of this will be laid out in an industry conference in the country in November, Innovation said.

Legislation has been proposed to allow both resort casinos and smaller machine gaming venues, and possibly internet gaming. A Special Commission on National Development approved the measure by a wide margin last December, and is currently negotiating revisions with lawmakers.

Innovation forecasts that an expanded market featuring 244,000 gaming positions could generate 140 million visits annually by its third year, and potentially more than $7 billion in gaming revenue.

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