Pulse
LATIN AMERICA FOCUS ARGENTINA - ONLINE
business. Products may include betting on horseracing, sports and non-sports events (including virtual events but excluding politics), casino games and lotteries. Licences are valid for up to 15 years. Each new licensee must make a down payment of €650,000 to obtain its BA licence, with five per cent of online gambling turnover taxed.
Online gambling will be composed of the following foreign and domestic partnerships:
l ArgenBingo BA and William Hill
l Pasteko SA and Hillside Media Malta (bet365) l Hotel Casino Tandil and Playtech
l
Boldt SA and Cassava Enterprises Gibraltar (888 Holdings)
l
Atlántica de Juegos y Stars Interactive Limited (Flutter)
l Binbaires SA and Intralot SA l
Casino de Victoria and Betsson Group LICENCES IN THE CITY
At the end of May 2019, the Legislature of the City of Buenos Aires approved the final regulation of online gambling. Te granting of online licences has yet to be completed in the city but a number of agreements have already been reached and one online casino is already live. According to LOTBA officials, six companies have applied for a licence as well as two land-based operators. In addition the 1,200 lottery outlets could be used as places where players can make deposits into their online accounts. Te city government expects to generate between US$6.8m in tax revenue for the city via online gambling.
In February 2020 LOTBA opened the tender for online gaming operating companies that wanted to launch in the city limits. Tere was no limit of permit holders and licences can be extended for a further five years. For a company to be granted a licence it must have at least two years of experience in the online gambling industry and annual revenue in excess of $1.5m, with net worth not less than $25m.
Interested parties must apply to LOTBA, and pay US$30,000 in administrative expenses when entering the system, and must also offer a guarantee of $2,000,000 plus 10 per cent on net proceeds. Operators must be certified by an accredited gaming laboratory, meaning that LOTBA will put in place a “Registry of Certified Laboratories” in order to complete and provide transparency for the online sector. A strict advertising code will also be imposed, as well as responsible gaming standards. Before the pandemic it was expected that online gambling sites would have been operational in the last quarter of 2020.
P102 WIRE / PULSE / INSIGHT / REPORTS
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