[ad_1]
SPORTS BETTING
STF suspends rule that restricts betting advertising
Minister Fux voted to declare unconstitutional a section of the new Sports Betting Law that allows advertising only in the State where the service is domiciled
Published on October 23, 2024 at 8:04 pm
Bets Credit: Shutterstock
Minister Luiz Fux, of the Federal Supreme Court (STF), suspended a section of the new Sports Betting Law that prohibits the advertising of lottery services in more than one State. The decision complies with the government of São Paulo, which requested a (provisional) injunction to suspend the rule after the judgment on the merits (definitive) was suspended following a request from Gilmar Mendes.
The governor of São Paulo, Tarcísio de Freitas (Republicans), argued that the measure was urgent because the State has an auction for the concession of its lottery services scheduled for next Monday. The trial on the merits had begun in the virtual plenary on Friday.
Fux voted to declare unconstitutional the section of the law that allows advertising only in the State where the service is domiciled. The action was filed by the States of São Paulo, Minas Gerais, Acre, Mato Grosso do Sul and Rio and by the Federal District.
Fux understood that the States have the competence to operate public lottery services and that the Union cannot institute differentiated treatment between federative entities, “privileging certain States over others or privileging itself over the Member States”.
“In the current reality of a globalized market and wide dissemination of the media, it may make sense for the State that intends to sell its lottery products to carry out marketing actions at events held outside its territory, as long as the transmission of these events reaches the public physically located and its limits”, he stated.
Last week, the Administrative Council for Economic Defense (Cade) debuted in the field of betting by approving the first operation to acquire electronic betting companies that came into the government’s sights after the explosion of this type of market in the country.
For specialists, it is the first of many transactions that should take place in the Council in the coming months, especially after the creation of stricter rules. The new wave won’t exactly be a surprise. “The market is still very fragmented and it is natural for merger operations to occur between bets, especially in the case of companies that do not receive authorization to operate from the Ministry of Finance”, says lawyer Ednei Nascimento da Silva, who worked for 18 years in the Where.
He even led the analysis of summary cases of mergers and acquisitions of companies, such as bets. For him, the approval of the transaction between an Irish multinational and a Brazilian company was already expected. Under the agreement, the Europeans acquired 56% of the national company. “It is quite likely that companies still have market shares of less than 20%”, assesses Silva, regarding the concentration limit that should alert Cade.
[ad_2]
Source link