Mexico Considers Gaming Tax Increase
Lawmakers have put forward reforms aimed at adjusting the collection of special taxes already imposed on casinos, through a committee-strutinised initiative
Te new move aims to modify the Law on Te Special Excise Tax on Production and Services (IEPS).
MEXICO LEGISLATION
Lawmakers from both the PAN party (Te National Action Party) and the PES (Social Encounter Party) in Mexico’s Chamber of Deputies have put forward reforms aimed at adjusting the collection of special taxes already imposed on casinos, through an initiative that will be analysed in committees.
Te new move aims to modify the Law on Te Special Excise Tax on Production and Services (IEPS). Te IEPS tax is imposed on certain products which are deemed harmful in some way to the population or environment such as soft drinks, cigarettes, alcohol and petrol and is already imposed on casinos for which it stands at 30 per cent. Te new proposals also seek to modify the Law of Fiscal Coordination in order to apply a more federal approach when it comes to the distribution of resources generated by the industry.
Deputies are proposing raising the IEPS tax rate to 35 per cent not only on casinos but other games of chance. In Mexico federal resources are delivered to the states and their municipalities in order to compensate for their
Paraguay
Construction of a new mega resort and casino is now underway now that the Ministry of Environment and Sustainable Development of Paraguay (MADES) has given the project the green light. Work has already begun with the hydraulic filling on San Francisco Island, on the Paraguay River where the company in charge of the project plans to establish a tourist and entertainment mega complex that will feature a casino and luxury hotel. Te investment envisaged for the new complex stands at around US$150m and includes the construction of a five-star hotel, including a convention centre for 2,000 people, restaurants, a casino, luxury shops and an amusement park. American company Vimerica Development LLC will invest in the project via its subsidiary Vimerica SA along with local and foreign investors.
contribution to the country's economy.
Te largest of these funds is the General Shareholders' Fund. According to the latest proposals 10 per cent would be destined to the locations where the casinos and other betting operations are located in order to be used for the promotion and encouragement of physical culture and sport.
Te project has been put forward jointly by deputies Ricardo Flores Suárez (PAN) and Ernesto Vargas Contreras (PES). Te lawmakers say that ere are 409 slot parlours and casinos with 50 per cent of the industry currently concentrated in six states: Nuevo León, Baja California, Mexico City, Jalisco, the State of Mexico and Sonora. Te states where there are no legally installed casinos are Oaxaca, Zacatecas and Tlaxcala.
According to the deputies in Mexico the gambling industry accounts for 50,000 direct jobs, more than 140,000 indirect jobs and has economic benefit, when it comes to the payment of the IEPS tax, of $1,400m per year.
Fourteen companies register for Buenos Aires online tender
Argentina
A total of 14 companies will contend for the seven online gambling licenses for the province of Buenos Aires which the Provincial Institute of Lottery and Casinos (IPLyC) will grant to those operators who meet with the requirements established by the rules of the new tender process. Te Institute of Lottery and Casinos (IPLyC) held a signing ceremony marking the official reception for the 14 proposals in July.
Tose companies which registered and are taking part are TV Global Enterprises - Impresora Internacional de Valores. Bingo Pilar S.A - PPB Counterparty Services Limited Sucursal Argentina. Biyemas S.A. Cassava Enterprises (Gibraltar) - Boldt S.A . Hillside (New Media Malta) PCL -
Pasteko S.A. Argenbingo S.A - Will Hill S.A Sucursal Argentina. Hotel Casino Tandil S.A - Dynamo Tyche S.A - Playtech Software Limited. Emprendimientos Crown S.A - Luckia Gaming Group S.A (UT). Binbaires S.A - Intralot Internacional Limited (UT). Casino de Victoria S.A - Betsson Malta Holding Limited (UT). Betway Group Limited - Bingo King S.A (UT). Iberargen S.A. - Codere Latam S.A (UT). Sisal Entertainment S.P.A - Areltown S.A - El Chalero S.A (UT). And Atlantica de Juegos S.A - Stars Interactive Limited (UT).
International interest in the new licences has been high. In June the government announced that seven operators had put forward bids in order to offer online gambling in the province with more likely to follow before the deadline lapsed on June 25. Crucially a number of international companies have teamed up with local partners in order to take part.
LATAM – Spanish and Latin America gaming powerhouse Grupo Comar has named JCM Global its preferred supplier for bill validators and printers. The new agreement expands the relationship between Grupo Comar and JCM.
Under the agreement, JCM will provide its iVIZION bill validator and GEN5 Thermal Printer to Grupo Comar casinos throughout Spain and Latin America. Grupo Comar Casino Division Purchase Manager Manuel Lopez said, “We have enjoyed our working relationship with JCM for many years, and now we are pleased to enter this new phase. We have been impressed with the technological and security capabilities of iVIZION and GEN5 and with the security and accountability they provide.”
“We are honored and humbled to expand our relationship with Grupo Comar, and we are grateful for their ongoing support,” JCM Gaming Division Sales Director Marcus Schmitz said. “Grupo Comar joins casino operators worldwide who trust and rely on iVIZION’s impeccable levels of security and GEN5’s faster print speeds to provide high levels of protection and customer service on the casino floor.”
CHILE – Enjoy Casinos of Chile has announced that Link King, the star of Bryke, Zitro’s Video Slots brand, and the number one progressive multi-game bank is now available to players in the Andean state.
Alejandra Burato, commercial director for LATAM of Zitro commented: “With the installments of Link King in the Casinos of Pucón, Viña del Mar and Coquimbo of the Enjoy group in Chile, we have achieved one more step in our great expansion objectives in Latin America. It is an honour for us to have the confidence of the renowned Enjoy Group and we are excited to be able to expand the facilities soon with more global success games such as Link Me and Link Shock. ”
PUERTO RICO – Despite fears that sports betting legislation could be delayed the members of the House of Representatives have reached consensus over how sports betting should be regulated.
The purpose of the legal initiative is to establish the "Law of the Gaming Commission of the Government of Puerto Rico" and puts in place new policies regarding betting on sporting events, eSports and fantasy sports. The new law allows for based sports betting as well as online sports betting but will not permit bets on amateur sports.
Agreement was reached after more than two months of negotiations, after two commissions of the House of Representatives reached an agreement on the project.
NEWSWIRE / INTERACTIVE / MARKET DATA P13 SOUTH AMERICA
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