SÁB 6 DE JULIO DE 2024 - 03:32hs.
Financial Inspection and Control Commission

Brazilian deputies debate transferring federal lottery operations to subsidiary

The Financial Inspection and Control Committee of the Chamber of Deputies hears this Tuesday (4), at 10 am, the CEO of Caixa Loterias, Lucíola Aor Vasconcelos, about the possibility of transferring federal lottery operations to a subsidiary company from Caixa Econômica Federal.

Deputy Tadeu Veneri (PT-PR), who proposed the debate, explains that the matter was discussed at a recent meeting of the company's Board of Directors.

"We express our concern about this measure, as we know that Caixa lotteries have been fundamental in reducing social inequalities in the country, through the transfer of resources to social policies. Around 40% of Caixa Loterias' profits go to investments in health, education and social projects," ponders the deputy.

According to him, data from the bank shows that, in 2023, of the R$23.4 billion (US$ 4.45bn) collected in Lotteries, R$9.2 billion (US$ 1.75bn) was allocated to society.

The parliamentarian explains that, in Brazil, federal lotteries are a monopoly of Caixa, which is a public bank. He recalls that, in 2016, there was an attempt to end this monopoly: the subsidiary Lotex was created to transfer the operation and go public.

The government held an auction for control of the scratch card, Caixa was disallowed from participating in the process and, after two failed attempts, in 2019, the Estrela consortium was selected. "After a few years and without carrying out the service, the consortium gave up the operation," he recalls.

Given the situation, the subsidiary Lotex had its status changed and became Caixa Loterias, according to the deputy, in a "more robust attempt to privatize control of federal lotteries." In August 2023, a new decree created the possibility of Lotex once again being operated by Caixa.

Source: GMB