Inside Asian Gaming

INSIDE ASIAN GAMING | September 2008 34 • Casinos Austria International • CIRSA Casino Corp. • Casino Club • Boldt • Worest Entertainment & Casinos • Casinos del Litoral BRAZIL Brazil has the largest lottery and bingo markets in Latin America. There are currently eight lotteries registered with the Caixa Economica Federal, a Brazilian gov e r nme n t - own e d bank. State law may allow lotteries to offer betting and gaming via the Internet and mobile phones and several do so. Pari-mutuel betting is also legal. The country was home to a flourishing bingo arcade industry, but the halls were shut down in 2004 amid allegations of corruption. Casinos have been illegal since the 1960s, and they face considerable opposition, meaning that legalizing them is at best a very low priority of government. Leading Operator • Codere Group CHILE Gambling is quite prevalent in Chile and consists of casinos, racetracks and racinos. The country is divided into 15 regions, with each permitted a maximum of three casinos. The exception is the Market Overview L atin America is becoming one of the fastest-growing regions globally. With the introduction of a new gaming law in Chile and the growth of machine gaming in Mexico, the region is full of business opportunities. One of the primary reasons for the recent Latin America gambling surge is an increase in expendable consumer income. The International Monetary Fund estimates that GDP growth in Latin America topped 4.7 percent in 2006, making 2004 through 2006 the strongest three-year period of expansion in the region since the 1970s. Thriving commodity exports and record-level currency appreciation have been the key drivers of economic growth. Dollar- measured regional GDP has grown by 14.8 percent a year every year since 2002. By the end of 2007, Latin America was twice as wealthy as it was only five years ago. ARGENTINA With 23 provinces and one autonomous city, Buenos Aires, which is the capital of the country, Argentina has more than 100 legal gambling facilities. Net revenue generated by slot machines, table games, bingo and lotteries exceeds $4.3 billon. Argentina’s National Lottery is run by Loteria Nacional Sociedad del Estado de la Republica Argentina. In addition, Argentina has several smaller lotteries run by local agencies. Types of Gaming • Casinos (79) • Racinos (1) • Slot halls (426) • Horse tracks (10) • Slots (32,000) Leading Operators • Codere Group The Latin Beat Ernst & Young research reveals a flourishing industry across most Latin American markets