casino mogul pitches for multi-billion dollar venue in Brazil

Sands Group CEO and Las Vegas casino mogul Sheldon Adelson is eyeing to expand his already extravagant gaming and hospitality ventures to greener pastures as he recently visited Brazil to pitch for an $8 billion casino in the popular city of Rio de Janeiro.

Adelson has long entertained the idea about Brazil being “potentially very good opportunity” and if the government allows the opening of a Las Vegas style casinos in the nation, it has the potential to become one of the biggest in the world, to the likes of Las Vegas and Macau.

In accordance to recent reports, the billionaire recently met with the Brazilian President, Michel Temer along with several other recognized government officials including the Minister of Tourism and the President of the Chamber of Deputies, to plot the multi-billion-dollar idea.

Adelson showed great interest in investing in projects based in other destinations too such as Sao Paulo and in another city that was presently at an “embryonic stage”.

However, a hurdle in Adelson’s plan may be his strong opposition to online gaming that could prove to be an obstacle for him in a country that is reportedly open to expand other gambling avenues. An online poker bill was quite recently cleared by the Senate committee recently in the last fall.

Brazil prohibited casinos 70 odd years ago, though several proposals have been made to permit dozens of casinos in the country.

Gambling in Brazil has been barred for the past 7 decades but these days many view it as a means to boost the national economy and bring in more foreign investment.