Argentina Market Report
Last year the Financial Information Unit (UIF) updated its Anti
Money Laundering regulation applicable to the gambling industry with the resolution 194/2023. Tis is a complete overhaul of previous rules which were last updated back in 2010. Te
resolution is made up of seven chapters and looks at the AML/CFT system and monitoring and analysis and reporting activities.
Last year the Financial Information Unit (UIF) updated its
Anti Money Laundering regulation applicable to the gambling industry with the resolution 194/2023. Tis is a complete overhaul of previous rules which were last updated back in 2010. Te resolution is made up of seven chapters and looks at the AML/CFT system and monitoring and analysis and reporting activities. It requires operators to provide a risk assessment technical report updated every two years and there are new definitions for customers at landbased operations and online gaming operations.
PROVINCIAL OVERVIEW
CITY BUENOS AIRES Te City of Buenos Aires is an autonomous city located on the western shore of Rio de la Plata. It is home to around three million population dotted around the 48 neighbourhoods. Alongside being the country’s capital it is also an important port and national centre of commerce, industry and culture. Gambling is regulated by Loteria de la Ciudad de Buenos
Aires SE (LOTBA) which authorises gaming at the Hipodromo Argentina de Palermo (HAPSA) and Buenos Aires Casino, the 1,200 lottery agencies in the city and online gaming and lottery. In May 2019 legislature in Buenos Aires approved the regulation of online gambling and in late 2020 it opened the call for online operators. Te criteria includes:
u
Operators must have at least two years experience operating an online business and a corporate value of US$25m.
u
Licences pay an annual fee of US$100,000 and US$30,000 processing fee.
u Operators pay 10 per cent tax on GGR. 144 u
Duration of licence is for five years which can be extended for a further five with no limit on licences.
Tere are currently 11 authorised online companies - Codere,
Bplay, Super7, Jugadon, Betsson, BetWarrior, Bet365, Betway, Betfun, Casino Buenos Aires Online and Play UZU. Plus the lottery has its own platform via
tuagencialotba.bet.ar Initially incumbent landbased operators were not eligible to apply for an online permit, but a lawsuit in May 2020 by operators to stop the launch of online gambling in the capital resulted in a change in the licensing regime as from September 2020 enabling local landbased operators to apply. Te authorities also granted the Hipodromo de Palermo Racino
and Casino Buenos Aires riverboat casino special permission due to revenue losses during Covid and these both launched online casinos in April 2021. Te Hipodromo was inaugurated in 1876 and was bought by Hipodromo Argentina de Palermo SA (HAPSA) in 1992 and hosts around 120 race meetings a year. In 2002 the company won the right to install slots and today there are around 4,000 slots. Tere are no gaming tables but electronic roulette is permitted. Te first floating casino docked in the harbour Puerto Madero was permitted in 1999. A second ship joined in 2004 and combined the Estrella de la Fortuna and Buque Princess which make up the Casino Buenos Aires with a total of 1,400 slots and 120 tables. Revenues in 2019 were HAPSA A$2.63m; Horse racing A$68m;
Lottery games A$1.46m and casino A$2.1m. Te lottery company saw a 146 per cent increase in sales in 2022 with games rooms responsible for 82 per cent of total sales whilst lottery games generate 23 per cent of sales. Quiniela is the best-selling lottery game.
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