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Te bill, which is in its second constitutional procedure phase and has qualified as an urgent matter, must now be submitted to a vote in the Senate Chamber.
CHILE LEGISLATION Committee Approves Online Bill
Te Chilean Senate Economics Committee has unanimously approved a bill regulating online betting platforms, moving it forward for a vote in the Senate.
Peru - Modifications to online gambling law The Minister of Economy and Finance, José Arista, announced that the government is looking to modify Law 31557, which regulates the operation of online gambling. Minister Arista emphasised the need to establish a regulatory framework that allows for the proper payment and declaration of tax by foreign betting companies operating in Peru. He argued that since in-person games are already subject to taxes, it is “fair and equitable” for remote games to be subject to the same tax regime.
“The Executive Branch will propose a regulation to Congress amending Law 31557 to regulate elements necessary for the application and collection of taxes on remote gaming and sports betting, as well as to allow for their declaration and payment by the obligated parties,” the minister stated.
José Arista stated that the objective of the modification of the bill was to guarantee that non- domiciled companies pay the tax, equivalent to 12 per cent of their net income. Interest in the newly regulated online market is high. During the first 30 days of the enforcement of Law No. 31557, which regulates the operation of online gaming and sports betting, 145 authorisation requests were submitted.
Brazil - ANJL campaigns to overturn veto The National Association of Games and Lotteries (ANJL) has launched a campaign to convince congressmen, senators, and the federal government to overturn a partial veto by President Luiz Inácio Lula da Silva to the sports betting bill that changed the taxation of bettors’ winnings.
ANJL has defended the resumption of the original text of the proposal stating via social media that:“We are entering a decisive period for the future of the sports betting and online gaming market in Brazil. In the coming days, the National Congress will decide on the Executive’s vetoes to paragraphs of article 31 of Law 14,790. ANJL, concerned about the effectiveness of Regulation and aware of the importance of lifting the vetoes, is launching a campaign to sensitise the executive and legislative branches on the issue. After years of waiting for Regulation, it is important at this time for us to come together to prevent setbacks."
The ANJL called on stakeholders to action. “Before us is a watershed moment for the national sports betting and online gaming industry. Law 14,790, a promise of renewal and economic justice, hangs by a thread in the face of presidential vetoes on Article 31. This is an emergency call – legalised industry, the well-being of our citizens and the legal order itself cry out for intervention. Brazil is on the threshold of a revolutionary era for sports betting and online gaming.”
P10 WIRE / PULSE / INSIGHT / REPORTS
Te Senate Economics Committee has unanimously approved in general the bill regulating the development of online betting platforms in Chile (Bulletin No. 14838-03). Te objectives of the bill are to generate a competitive market, taking into account other forms of currently legal gambling such as lottery draws, the lottery (Polla Chilena de Beneficencia) and horse racing in order to safeguard public trust.
Te bill is also aimed at protecting the health and safety of players. It will help the government track the origins and destination of resources obtained through online platforms. Overall, the newly regulated industry will contribute to an estimated annual tax revenue of $84.090bn.
Te bill, which is in its second constitutional procedure phase and has qualified as an urgent matter, must now be submitted to a vote in the Senate Chamber, so that senators have the opportunity to express their opinions on the
Brazil IBJR and Loterj at loggerheads over licences
Te Brazilian Institute of Responsible Gaming (IBJR) has issued a statement outlining its stance regarding the recent conflict involving the Ministry of Finance and the lottery of the state of Rio de Janeiro, Loterj.
Te IBJR has criticised the actions of Loterj in a statement saying that: “Requiring bettors to declare that their bet is placed in the State of Rio de Janeiro, regardless of their domicile or actual location, makes no logical or legal sense.”
It criticised the agency for adopting grant license fees that are significantly different from those established by the Federal Government as it generates tension over the beginnings “of a possible ‘fiscal war’ between the federative entities – which, consequently, increases levels of legal uncertainty to the detriment of the entire sector.”
Te IBJR argues that while “the States have material competence
to explore lottery activities and regulate such exploration, it is evident that state regulatory activity must adhere to the national guidelines established by the Union (and consequently, cannot contradict them).”
Te IBJR believes the actions taken“create disorder, raise unnecessary doubts, and harm the regulation process of the fixed- odds betting industry in Brazil” and “jeopardise the effectiveness of the legal framework consolidated by Federal Law No. 14,790/23 and bring legal uncertainty to the market, creating a negative environment for businesses and for the planning of operators who wish to apply... for authorisation to operate regularly in the Brazilian territory.”
Loterj responded that the online products it sells do not exceed territorial limits according to rules already laid out by Brazil’s Supreme Court as the bettor must declare bets are placed in the State.
matter. If approved, a new period will open for any new amendments that might be put forward.
In the context of the general vote, Deputy Finance Minister Heidi Berner, along with Senators Kenneth Pugh, Gastón Saavedra, Gustavo Sanhueza, and Senator Loreto Carvajal, agreed to continue working on amendments with their advisors on certain issues of the bill as well as new topics raised in the session and others that may arise from future hearings.
With regard to taxation, Deputy Finance Minister Heidi Berner refuted calculations disseminated by some stakeholders during the processing of the bill, and presented calculations on the tax burden and the reasons for the need to establish a specific tax, in addition to maintaining VAT and income tax. Heidi Berner and the Head of the Superintendent of Casino Games (SJC), Vivien Villagrán, presented Chile’s online gambling bill to the Senate’s Economic Committee in January.
Chile
Enjoy has published its financial statements for the last quarter of 2023, reporting a loss attributable to owners of the parent company of CLP $89.8bn as of December 31, deepening the negative balance from CLP $57.4bn the previous year.
Enjoy attributed this situation to several factors, including a lower EBITDA generated in 2023 compared to the previous year, as well as a higher impairment of assets. Despite these losses, Enjoy has experienced a nine per cent increase in its consolidated revenues, reaching CLP $86.3bn in 2023.
In January, Enjoy announced it was undergoing a second attempt at restructuring. Enjoy’s CEO, Esteban Rigo-Righi, said: “Te results obtained towards the end of last year indicate that this business is sustainable and that there are growth opportunities, so we are working intensely to project the company properly alongside our creditors."
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