In light of the accusations, Caixa's Board of Directors called an urgent meeting for this Monday (18), precisely with the agenda of transforming the Lottery sector into a subsidiary.
The bank's management justifies, among other allegations, that it aims to “maintain competitiveness with the competitive market” and “to be able to operate in the sports betting operation”, since “the legislation requires a specific National Classification of Economic Activities (CNAE by its name in Portuguese)”.
Bank employees echoed the complaint and stated that a possible transfer of the operation to a private entity could affect social programs financed by lotteries, in a demonstration of union corporatism over strategic decisions at Caixa Econômica Federal.
In 2023, Caixa's lotteries raised R$ 23.4 billion (US$ 4,7 bn), with R$ 9.2 billion (US$ 1,84 bn) being transferred to federal government social programs.
Employees see a possible transfer of lottery management to Caixa Loterias, proposed by the bank's management, as a form of disguised privatization of the operation and in order to force the maintenance of lottery activities in the hands of Caixa, they allege possible interruption of social programs , as a way of guaranteeing popular support to stop the transfer.
The National Federation of Caixa Managers Associations (FENAG) even asked for clarification about the change, in order to understand the process. The concern is that the transfer could reduce resources allocated to social programs for private operators.
In the video, the employee representative on the Council states that privatization attempts have been underway since Michel Temer's government and that this could compromise the social actions carried out with the money raised by lotteries. He even claims the loss of jobs not only at Caixa, but also at the lottery network.
What Messias does not say in the video is Caixa's delay in modernizing and reformulating its lottery products, which in Brazil are out of step with the current situation in the global lottery market, which is growing at a rapid pace while sales in Brazil remain practically stable.
He also does not point out that the payout of Brazilian lotteries is one of the lowest in the world and that only three modalities operated by Caixa currently maintain practically all the others. Today, Mega-Sena, Lotofácil and Quina represent more than 85% of Loterias CAIXA's revenue.
Monopoly of the Union since 1962, the lotteries operated by Caixa began to wear out and face competition from state operations. With the aim of changing the game, the federal bank has already presented itself as possibly interested in operating sports betting. But, at a snail's pace, Caixa could be swallowed up by competition with bets, despite the wide lottery network of almost 14 thousand points, which could turn the game in favor of federal exploitation.
Source: GMB
