The Peruvian Gaming Authority has
announced plans to further regulate online gaming and sports betting. These plans will be submitted to
Congress provided and if approved by the Economic and Trade Committee. Under current
proposals online
operators would have to be formally established in Peru while unlicensed offshore operators would be blocked from offering their services. Peru
administration and has signalled a change of approach reflected by the liberalisation of the economy in the last few years. In February 2020, Venezuela began allowing companies to raise capital in foreign currency.
Tragically horse racing, which has a long and illustrious history in Venezuela, is now in sharp decline. Tis decline has been hastened by government corruption and increasing state control which has extended to the thousands of sports betting outlets nationwide. Meanwhile gambling supervisory bodies post no relevant news instead using their platforms to post pro government propaganda via twitter.
Te government has initiated a strategy to stimulate the use and adoption of the Petro cryptocurrency - the country’s national digital currency .In January 2020 the government authorized the operation of a cryptocurrency casino at the Humbolt hotel. Te use of the new cryptocurrency has now extended to lotteries, horseracing and casinos.
Te government has now issued 30 P30 WIRE / PULSE / INSIGHT / REPORTS
casino licenses in all with the National Commission of Casinos (CNC) selling licenses for $350,000 each. In addition the CNC announced that operators with a casino license would need to connect with a central monitoring system. Maduro said that all the funds raised will be allocated to social investment in areas such as education and health care. While there has been no official word from the government beyond this the message is clear: the Maduro administration needs to create jobs and revenue. However income from the sector is expected to be low due to the wide proliferation of illegal gambling.
6
Peru Online gaming incoming
Peru’s economy has been one of the fastest-growing in Latin America in recent years. Despite the fact that Peru suffered the most severe contraction of any major economy in the second quarter of 2020 Peru’s central bank stated that the country is on track to exceed its 2019 pre-pandemic gross domestic product in 2022.
Te casino industry is well regulated and a number of foreign operators are already well positioned in the market. For several years Peru has been making significant progress in the regulation and development of its gambling industry. Gambling is now operated nationwide in casinos, hotels, restaurants and bars while the land based sports betting sector is also seeing a slow expansion. In addition a small number of online operators are permitted to offer their services by the government.
Te Peruvian Gaming Authority has announced plans to further regulate online gaming and sports betting. Tese plans will be submitted to Congress provided and if approved by the Economic and Trade Committee. Under current proposals online operators would have to be formally established in Peru while unlicensed offshore operators would be blocked from offering their services. Agreements have already been reached with the corresponding government agencies to ensure that offshore operators will not be able to offer their services locally.
In July 2021, Congressman Walter Ascona introduced a bill that would put in place a 12 per cent tax for sports betting and online casinos.
Initiative 7237/2020-CR would increase transparency in the online gambling sector and resources would be used to fund culture and sports.
7
Uruguay All cards on the table
Both the land-based and online gambling industry is set to expand in Uruguay. Te Executive branch has sent a bill to Parliament that would permit both state run and privately run casinos to offer online casino games including poker, roulette and slots. Although in its very early stages the bill, signed by President Lacalle Pou, would give the General Directorate of Casinos of the Ministry of Economy and Finance authority to run online casino games. Te Executive branch would be granted permission to authorize private companies that already operate casinos as well as future license holders permission to offer online casino games.
It is believed that the authorisation of online games was a key
The government is looking for operators to further invest in land-based projects. In April 2020, the government began looking at allowing the development of two new integrated resort casinos. In September 2020, President Luis
Lacalle Pou and the Minister of Tourism Germán Cardoso launched the tender for a five-star hotel with a casino located between the towns of La Paloma and Chu on the Rocha coast.
Uruguay
condition for the investment of a new casino in Punta del Este. Casinos and slot parlours are run and owned completely by the state via Uruguay casino group Casinos del Estado. Tey are also jointly owned and operated by the private sector and the state under “the mixed system.” since 1995. Tere is also one completely privately owned and run casino: Te Hotel and Casino Enjoy in Punta del Este. However another private casino is planned for the San Rafael hotel in Punta del Este. Te hotel has been closed since 2011, but was acquired by the Cipriani Group for more than US$40m in February 2018.
In addition, the government is looking for operators to further invest in land-based projects. In April 2020, the government began looking at allowing the development of two new integrated resort casinos. In September 2020, President Luis Lacalle Pou and the Minister of Tourism Germán Cardoso launched the tender for a five-star hotel with a casino located between the towns of La Paloma and Chu on the Rocha coast.
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