INSIGHT SOUTH AMERICA
Latin America Big Opportunities
It’s a crucial time for the Latin America gaming market overall as key jurisdictions such as Brazil and Chile are now in the process of changing their online gaming laws while an expansion of the market is also happening in the land-based sector as well in some cases. However, the
region offers a complex and extremely varied picture overall. Political turbulence has led to an economic downturn in many Latin American countries which has deterred investment.
In order to understand both the opportunities and challenges suppliers face, the much wider context of both social and political upheaval needs to be taken into account. In addition, we are seeing particularly troubling times in certain markets.
Te third largest economy in the region, Argentina now has one of the highest inflation rates in the world (over 140 per cent). Runaway inflation and a poverty rate of over 40 per cent has in part led to the presidential election victory of self proclaimed “anarcho-capitalist” Javier Milei. Te former television pundit and media sensation has promised to cut government spending called for the dollarisation of Argentina’s economy and has been able to capitalise on anger at politicians who have failed to tame inflation.
Meanwhile, Colombia’s left wing president, Gustavo Petro, has been engulfed in a political crisis, caused by a wiretapping scandal and his popularity has plummeted since he took office last August. Arguably the most troubling developments of all have occurred in Ecuador where the murder rate has quadrupled between 2018 and 2022. Shockingly, in the space of just over three years, Ecuador has become the battle ground for drug traffickers with ties to Mexican and Colombian cartels.
In recent decades Peru’s economy had grown at around double the
WIRE / PULSE / INSIGHT / REPORTS P27
rate of other economies in Latin America and the Caribbean, but Peru too has experienced its share of trouble having seen as many as five different presidents in just five years. During the first few months of this year the economy continued to be impacted by nationwide unrest and was in recession in the first half of 2023.
In Bolivia, tensions continue over the arrest and imprisonment of opposition leader Luis Fernando Camacho. Meanwhile Panama is
Peru has
experienced its share of trouble having seen as many as five different presidents in just five years. During the first few months of this year the economy
continued to be impacted by
nationwide unrest and was in recession in the first half of 2023.
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