Brazil’s sports betting plans took a major step forward this week as the country’s president formally designated government agencies to oversee the launch of fixed-odds sports betting.

On Tuesday, President Jair Bolsonaro signed Decree No. 10,467, which designates the National Bank for Economic and Social Development (BNDES) and the Ministry of Economy as responsible for realizing the sports betting legislation approved by Brazil’s former president in December 2018.

The decree includes sports betting in the country’s Investment Partnership Program (PPI) that will allow private operators to offer wagering to local bettors. The move follows the government’s efforts to privatize management of the LOTEX instant win lottery business.

The BNDES will be responsible for “executing and monitoring the privatization process” while the Ministry of Economy will responsible for “coordinating and monitoring the privatization referred to in the caput [the introduction to the betting legislation], as well as for approving the studies, projects, surveys or investigations necessary for the effectiveness of the referred privatization.”