🇧🇷 Luiz Inácio Lula da Silva · 2 sources
How Brazils Lula pressured gambling company stocks – What happened to Allwyn
What happened
Brazil's President Luiz Inácio Lula da Silva has temporarily revoked a license granted during his government. The license was for a company, which has seen its stock fall for seven consecutive trading sessions following a ban on sports betting and online gaming in Brazil. The ban requires companies not to accept new bets and allows customers to withdraw funds until October 5.
Why it matters
The action may have implications for the gambling industry in Brazil. A ban on sports betting and online gaming may affect the company and its customers. The decision was made just one week before elections.
Key facts
- The license was granted during Luiz Inácio Lula da Silva's government.
- The company's stock has fallen for seven consecutive trading sessions.
- Customers have until October 5 to withdraw funds from platforms.
Topics
Publisher evidence used
Reporting attributed to bankingnews.gr. WorldLeadersNews links readers to the publisher and does not present a headline-only item as a full article analysis.
Also reported by
- bankingnews.grSource
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