Its objective is to finance social policies for people in situations of social vulnerability

The plenary session of the Legislative Assembly of the State of São Paulo approved, this Wednesday (23rd), bill 359/2021, authored by the Executive, for the realization of national and international loans for investment in works, transport, housing, health, education, public safety, innovation and technology, and the creation of the State Lottery.

The proposal for Sao Paulo’s state lottery was approved with 53 votes in favour and 20 against, as well as some amendments relating to the transparency of the operations planned in this area. All the other amendments were rejected, but more importantly, retaining Article 14, which deals with the creation of the lottery. Now, this measure has been sent for final approval to the office of Governor João Doria.

The creation of the ‘Lottery of the State of São Paulo’, which aims to expand the sources of financing for important social policies aimed at people in a situation of social vulnerability, is one of the measures in the gaming and betting sector in Brazil that continues with opening opportunities for foreign investments, at difficult times for the local economy.

Last year, the Supreme Court ended the monopoly on lottery operation held by the Federal government, paving the way for all states to be able to use gambling to bolster their revenue. Since then, the governments of the states of Maranhão, Mato Grosso, Minas Gerais and Rio de Janeiro have registered initiatives to create their own regional lotteries.