Insight
LAND-BASED CASINOS Argentina & Bolivia
revealed that the future of the two casino ships moored to the harbour in Buenos Aires has now been left to the Supreme Court. Te court must decide whether to accept a complaint, filed by the Government of Buenos Aires, against a judicial measure that allows the operating company of the floating gambling halls to continue operating the business, even though their contract expired in October.
Te Supreme Court has no set deadlines as to whether it will decide whether or not to accept the complaint filed by city hall. As a result, the situation could last for years. Te casinos provide work for nearly 3,500 people and offer more than 1,400 slot machines and 120 gaming tables.
Elsewhere, the industry is regulated by provincial governments and has registered slow growth in a number of
provinces. All the same, a new large scale casino is under construction in Río Negro. Another bright spot for the local industry is the boom in domestic tourism.
Once more Argentines are being practically forced to take their holidays in Argentina, as Argentina has returned to a “tourist dollar” policy, under which foreign transactions face a 30 per cent surcharge over the official rate. Te credit card charge aims to help prop up the local peso and was introduced by the new government as part of an "economic emergency" law passed by Congress in December 2019.
Tis means that the Argentine coast has seen a record number of visitors. Tis is already having a positive impact on casinos in the area such as the Casino Central in Mar del Plata, which has recorded a significant increase in footfall this year.
Once more Argentines are being practically forced to take their holidays in Argentina as Argentina has returned to a “tourist dollar” policy, under which foreign transactions face a 30 per cent surcharge over the official rate. The credit card charge aims to help prop up the local peso and was introduced by the new government as part of an "economic emergency" law passed by Congress in December 2019.
Bolivia
In a number of markets, including Bolivia, there has been practically no change when it comes to any expansion of the land-based market. While the regulatory body Bolivia’s Authority of Taxation and Social Control over Gaming (AJ) has made significant progress when it comes to the control of illegal gaming, the gaming industry in Bolivia is still largely unregulated with illegal gaming widespread. Tere is only one licensed gaming operator in the entire country. Furthermore, there is little chance that this will increase anytime soon.
Evo Morales, who governed Bolivia for nearly 14 years, resigned from the presidency in November when the police and army withdrew support after several weeks of demonstrations that erupted over allegations of fraud in the presidential election that Morales said he had won.
Te country is now ruled by Jeanine Áñez, who replaced Morales as the country’s interim president in November. A member of the conservative opposition and the deputy head of Senate, she heads a caretaker government ahead of elections scheduled for
last month which, long-term, could see an end of anti-market policies depending on the result.
While Morales cannot stand for re-election, members of his Movement to Socialism (MAS party) will take part in what is likely to be closely fought race.
However, Áñez is a religious conservative. In fact she even held up a large bible while declaring herself the interim president. Consequently the end of 14 years of leftist rule, even if it does come, is unlikely to bring a change to gaming policy in the region.
NEWSWIRE / INTERACTIVE / MARKET DATA P73
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