2020 has kicked off to strong LATAM developments, as ‘IPLyC’ the regulatory authority of gambling for the province of Buenos Aires concludes its yearlong online gambling licensing process.
The publishing of BA’s executive gazette on 31 December, disclosed the seven ‘business partnerships’, that have been allowed to form online gambling ventures servicing Buenos Aires province – Argentina’s most populous state.
The launch of Buenos Aires’ founding online gambling regime will be composed of the following foreign and domestic partnerships:
- ArgenBingo BA and William Hill
- Pasteko SA and Hillside Media Malta (bet365)
- Hotel Casino Tandil and Playtech Plc
- Boldt SA and Cassava Enterprises Gibraltar (888 Holdings)
- Atlántica de Juegos y Stars Interactive Limited (Flutter Plc)
- Binbaires SA and Intralot SA
- Casino de Victoria and Betsson Group.
The IPLyC disclosed that it had received 14 venture applications to join its BA regime, with notable rejections handed to Spanish operators Luckia (Grupo EGASA), Codere SA and LATAM betting group BetCris.
Led by new president Omar Galdurralde, the IPLyC aims to formally launch its online gambling regime ahead of lotteries regulator LOTBA, which sanctioned its BA City licensing regime last September.
Last-minute amendments approved by Galdurralde, specified that business ventures have just ten days from 31 December to ‘present compliance guarantees in order to obtain licences’.
Furthermore, each venture must pledge a down payment of 65 million ARG Pesos (€650,000) in order to secure their BA licences under the IPLyC’s administration.
Budget resolutions signed by Argentina’s Treasury last November stated that regulatory authorities must ensure that online gambling services are taxed at 5% of turnover.
Despite IPLyC finalising its licensing orders, Argentine news source La Naccion reports that new BA Governor Axel Kicillof will intervene in the launch of the regime. Kicillof’s administration is reported to be dissatisfied by the online gambling laws and ‘welfare fund’ commitments formed by preceding governor María Eugenia Vidal.
Source: SBC News
