Mexico Population 128.9 million
Economic and Political Outlook Mexico's economy expanded in the first quarter by 1.8 per cent having narrowly avoided a recession last year. However economic growth for this year will be impacted by rising inflation, increasing as a result of price pressures associated with energy and commodities, tighter monetary policy as well as the overall slowdown in the global economy. A growth of 1.7 per cent is forecast for 2022.
President Andres Manuel López Obrador has been in power since December 2018 having won in a landslide becoming the first time a leftist politician has been elected in Mexico in thirty years. His popularity ratings remain relatively high despite a corruption scandal involving his son, and one of the highest Covid-19 death tolls in the world.
Online Regulatory Update Online gaming has been permitted via special license in Mexico since 2000, but only land based operators have been allowed to offer their services locally. Offshore operators target the market. A number of foreign operators have signed agreements with local landbased operators. In January 2020 a member of the ruling party Ulises Murguía Soto put forward an initiative to put in place new rules covering online gambling. Under the initiative Te Ministry of the Interior (SEGOB) would authorize gambling and online gambling sites.
Land-based Regulatory Update Te Betting and Raffles Law of 1947 banned casinos and gaming throughout Mexico. In 2005 President Vicente Fox tried to overturn the act but managed only to insert an amendment in the form of an appendix to the old law. However the changes to the law were highly significant as they allowed for sports betting, as well as the opening of slot parlours nationwide. In 2005 SEGOB was given responsibility for the granting of licenses.
For some years attempts have been made to repeal the 1947 act but there is no longer sufficient impetus to do away with the old act after an attempt ultimately failed to gather enough support in Congress in 2015. However the federal government is seeking more control over the sector while states seek to raise taxes over gaming operations in their own states and grant or revoke licences.
Obrador has publicly come out against the granting of new casino licenses. However lack of a federal policy has meant that the industry is becoming increasingly chaotic as each state sets out its own additional taxes and rules.
WIRE / PULSE / INSIGHT / REPORTS P85
MEXICO
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