The capital of Argentina, Buenos Aires, has established guidelines for online gambling permits, aiming to launch in the final quarter of 2020.
The city’s gambling authority, Loteria de la Ciudad (LOTBA), has suggested creating numerous “online gambling entities” that can provide sports wagering, slot machines, lottery games, and a range of casino table games.
Although there’s no restriction on the quantity of licenses, operators must have a total sales income exceeding 100 million Argentine pesos and have been operational for at least two years. Operators must not have been found guilty of offering illicit gambling in Argentina and must not be proprietors of retail gambling establishments or casinos within the city.
License holders are required to pay a $30,000 license processing charge and a $100,000 fixed annual license fee, in addition to a $2 million “compliance guarantee” as a form of security. LOTBA will levy a 10% tax on gambling earnings.
LOTBA has also hinted that additional regulations regarding marketing could be unveiled in the future.
For the past twelve months, the province of Buenos Aires, legally distinct from the capital city, was gearing up to issue its own online gambling permits, drawing in a multitude of operators such as Bet365, Betway, and Codere LatAm to submit bids.
Nevertheless, political instability has cast a pall over the initiation of online gambling, as Buenos Aires Province Governor Maria Eugenia Vidal, who championed gambling, was defeated by Axel Kicillof of the Justicialist Party and the Front for Victory coalition.
Based on local news outlets, seven out of the seventeen applicants will be granted licenses: ArgenBingo in collaboration with William Hill; Bingo Pilar in partnership with Paddy Power Betfair; Bet365 in association with Pasteko; Playtech in collaboration with Hotel Casino Tandil; 888 in partnership with Boldt; Atlántica de Juegos in collaboration with The Stars Group; and Intralot in partnership with BinBaires. However, this has not been formally announced.
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