Statistics VENEZUELA
MARKET DYNAMICS
OVERVIEW
GAMING MACHINES: SLOT PARLOURS: BINGO HALLS: LOTTERY:
POINTS OF SALE RACETRACKS: BETTING SHOPS ONLINE GAMING: CASINOS:
CASINO TABLES: MAIN OPERATORS: CASINO REVENUE:
TOTAL GAMING REVENUE:
Unknown None
Estimate 150
La Comisión Nacional de Loterías. 36,000
Estimate 25
800. Betting on Horse Racing Only Not permitted Est. 3
Est. 130
Local bingo hall operators. Unknown Unknown
The Venezuelan gaming sector is increasingly under siege by a government fundamentally opposed to gambling on principal and the gaming landscape has seen a remarkable transformation since 1996. In 1996 the market looked potentially lucrative for operators as Venezuela passed a gaming which allowed for casinos to be built in five star hotels with a minimum of 200 rooms. It was estimated that within a very short time at least 30 new casinos would be up and running and casinos and bingo halls would only be permitted once locals approved of their establishment via a referendum and bingo halls would be permitted as long as they were part of a hotel.
Three years after the act was passed and Hugo Chavez was elected to power. Chavez did not ban casinos or bingo outright but the industry saw a great number of closures during his 14 year long rule which saw huge tax increases across the bingo and casino sector. The closures left an estimated 100,000 people in the industry out of work. The went into overdrive in 2011 after the National Commission of Casinos, Bingo Halls and Slot Machines under the Ministry of Justice was given powers over the industry. Since its establishment closures have continued and in 2011 almost all of the bingo halls and slot parlours in the country were closed and licences revoked. Chavez’s successor Nicolas Maduro seems equally opposed to gaming and it is estimated that the industry will continue to decline under his leadership.
VENEZUELA: Statistics Capital: Caracas Population: 28,459,085 Land Area: 882,050
sq.km Currency: Bolívar Fuerte (VEF) Government: Republic Head of Government: Nicolás Maduro (Partido Socialista Unido de Venezuela United Socialist Party) Elections: Held at a national level for the President and for a unicameral legislature. The President of Venezuela is elected for a six- year term. The National Assembly elected for five-year terms
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